TD SYNNEX (NYSE:SNX) Receives "Outperform" Rating from Barrington Research

Barrington Research restated their outperform rating on shares of TD SYNNEX (NYSE:SNX - Free Report) in a report released on Friday morning,Benzinga reports. Barrington Research currently has a $156.00 price objective on the business services provider's stock.

Several other equities analysts also recently issued reports on SNX. Royal Bank of Canada upped their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. increased their price target on TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. StockNews.com cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Barclays raised their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Finally, Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and upped their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $140.00.

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TD SYNNEX Trading Down 0.2 %

SNX stock traded down $0.25 during mid-day trading on Friday, reaching $103.72. 490,951 shares of the stock traded hands, compared to its average volume of 786,466. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX has a one year low of $98.00 and a one year high of $145.10. The stock has a market capitalization of $8.75 billion, a PE ratio of 13.02, a PEG ratio of 1.06 and a beta of 1.51. The business has a 50-day moving average price of $135.01 and a two-hundred day moving average price of $125.70.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). The company had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business's revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $2.99 earnings per share. Equities research analysts expect that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.70%. TD SYNNEX's dividend payout ratio is presently 22.11%.

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the stock in a transaction on Thursday, January 16th. The shares were 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 directly owns 4,856 shares in the company, valued at $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,172 shares of company stock valued at $6,353,261. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of TD SYNNEX

Institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in shares of TD SYNNEX by 0.4% in the fourth quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider's stock valued at $2,607,000 after buying an additional 78 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in TD SYNNEX by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock worth $125,000 after buying an additional 90 shares in the last quarter. Ellevest Inc. grew its holdings in shares of TD SYNNEX by 3.9% in the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock worth $280,000 after acquiring an additional 90 shares during the period. Utah Retirement Systems increased its position in shares of TD SYNNEX by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock valued at $481,000 after buying an additional 100 shares in the last quarter. Finally, Amundi raised its position in TD SYNNEX by 22.3% during the fourth quarter. Amundi now owns 560 shares of the business services provider's stock worth $66,000 after acquiring an additional 102 shares during the last quarter. 84.00% of the stock is 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.