Analysts Set TD SYNNEX Co. (NYSE:SNX) Price Target at $144.38

Shares of TD SYNNEX Co. (NYSE:SNX - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $144.38.

A number of brokerages have weighed in on SNX. Royal Bank of Canada reaffirmed an "outperform" rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Wednesday, January 15th. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and increased their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. JPMorgan Chase & Co. upped their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Barclays increased their price target 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. Finally, StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Tuesday, January 14th.

Insiders Place Their Bets

In related news, Director Ann F. Vezina sold 839 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,289 shares of company stock valued at $3,639,500 in the last ninety days. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its stake in TD SYNNEX by 20.7% during the second quarter. The Manufacturers Life Insurance Company now owns 67,543 shares of the business services provider's stock worth $7,794,000 after acquiring an additional 11,589 shares during the last quarter. Algert Global LLC increased its stake in TD SYNNEX by 319.8% during the second quarter. Algert Global LLC now owns 10,159 shares of the business services provider's stock worth $1,172,000 after acquiring an additional 7,739 shares during the last quarter. Creative Planning increased its stake in TD SYNNEX by 21.3% during the second quarter. Creative Planning now owns 8,614 shares of the business services provider's stock worth $994,000 after acquiring an additional 1,513 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in TD SYNNEX by 3.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider's stock worth $315,000 after acquiring an additional 90 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of TD SYNNEX in the second quarter worth about $2,008,000. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

SNX stock traded up $2.80 during trading on Friday, reaching $142.81. The stock had a trading volume of 587,147 shares, compared to its average volume of 733,463. The stock's 50 day moving average is $127.10 and its two-hundred day moving average is $120.96. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX has a 52 week low of $98.70 and a 52 week high of $144.18. The firm has a market cap of $12.09 billion, a PE ratio of 17.94, a PEG ratio of 1.06 and a beta of 1.48.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.23%. TD SYNNEX's dividend payout ratio (DPR) is 22.11%.

About TD SYNNEX

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.