TD SYNNEX Co. (NYSE:SNX) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of TD SYNNEX Co. (NYSE:SNX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $134.75.

Several research analysts have commented on the stock. StockNews.com upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, August 16th. Royal Bank of Canada reissued an "outperform" rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Friday, September 27th. Barclays increased their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a report on Friday, September 27th. Loop Capital reissued a "buy" rating and issued a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Barrington Research reiterated an "outperform" rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd.

Insider Activity

In related news, insider Dennis Polk sold 15,689 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the sale, the insider now directly owns 134,706 shares in the company, valued at $15,751,172.58. The trade was a 10.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Simon Leung sold 6,249 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares of the company's stock, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,645 shares of company stock valued at $8,414,329 in the last three months. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in TD SYNNEX during the third quarter worth $30,000. UMB Bank n.a. lifted its holdings in TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider's stock valued at $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of TD SYNNEX during the 3rd quarter worth about $37,000. Blue Trust Inc. raised its position in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider's stock valued at $40,000 after buying an additional 123 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of TD SYNNEX during the second quarter valued at approximately $52,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Stock Down 1.4 %

Shares of SNX stock traded down $1.59 on Tuesday, hitting $114.71. The stock had a trading volume of 394,212 shares, compared to its average volume of 782,017. The business has a 50 day moving average price of $118.55 and a 200 day moving average price of $119.73. The company has a market cap of $9.76 billion, a PE ratio of 14.84, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX has a one year low of $96.93 and a one year high of $133.85.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm had revenue of $14.68 billion for the quarter, compared to analysts' expectations of $14.11 billion. During the same quarter last year, the company earned $2.71 EPS. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts anticipate that TD SYNNEX will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX's payout ratio is 20.70%.

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.