Analysts Set TD SYNNEX Co. (NYSE:SNX) PT at $149.75

TD SYNNEX Co. (NYSE:SNX - Get Free Report) has received an average rating of "Moderate Buy" from the eight analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $149.75.

Several brokerages have commented on SNX. Royal Bank of Canada increased their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Barclays boosted their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, January 13th. StockNews.com raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Finally, Cfra upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating and raised their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th.

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TD SYNNEX Stock Down 2.7 %

Shares of NYSE:SNX traded down $3.49 during trading on Monday, reaching $126.68. 427,484 shares of the stock traded hands, compared to its average volume of 730,160. The stock has a market cap of $10.69 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The stock has a 50-day moving average of $137.31 and a two-hundred day moving average of $125.59. TD SYNNEX has a 52-week low of $104.93 and a 52-week high of $145.10.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a dividend of $0.44 per share. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.39%. TD SYNNEX's dividend payout ratio (DPR) is presently 22.11%.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the sale, the director now directly owns 65,480 shares in the company, valued at $8,897,422.40. The trade was a 23.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares in the company, valued at $6,383,891.44. This represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,172 shares of company stock worth $6,353,261. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock worth $27,000 after purchasing an additional 176 shares during the period. Bessemer Group Inc. increased its position in TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. UMB Bank n.a. raised its stake in shares of TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after acquiring an additional 140 shares during the period. Point72 DIFC Ltd bought a new stake in shares of TD SYNNEX in the 3rd quarter worth about $55,000. Finally, Blue Trust Inc. boosted its stake in shares of TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after purchasing an additional 129 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.