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

Shares of TD SYNNEX Co. (NYSE:SNX - Get Free Report) have received an average rating of "Moderate Buy" from the eight analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $147.50.

Several research analysts recently weighed in on SNX shares. Barclays lifted their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Monday, January 13th. Cfra raised shares of TD SYNNEX from a "hold" rating to a "buy" rating and increased their price target for the company from $122.00 to $147.00 in a report on Friday, January 10th. StockNews.com downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Royal Bank of Canada upped their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th.

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Insider Buying and Selling

In other news, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares in the company, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,289 shares of company stock worth $3,639,500. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

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

TD SYNNEX Trading Down 0.3 %

TD SYNNEX stock traded down $0.48 during trading hours on Thursday, reaching $137.49. 624,593 shares of the company's stock traded hands, compared to its average volume of 631,390. TD SYNNEX has a fifty-two week low of $102.23 and a fifty-two week high of $145.10. 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 firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.06 and a beta of 1.49. The firm's 50 day moving average is $134.56 and its 200-day moving average is $124.36.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a $0.44 dividend. 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 annualized dividend and a dividend yield of 1.28%. TD SYNNEX's dividend payout ratio is presently 22.11%.

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.