TD SYNNEX (NYSE:SNX) Hits New 52-Week High - Here's What Happened

TD SYNNEX Co. (NYSE:SNX - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $144.48 and last traded at $144.25, with a volume of 458896 shares changing hands. The stock had previously closed at $141.60.

Wall Street Analyst Weigh In

SNX has been the subject of several research analyst reports. Barclays upped their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Cfra upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating and upped their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Royal Bank of Canada reiterated an "outperform" rating and set a $140.00 target price on shares of TD SYNNEX in a research note on Wednesday, January 15th. JPMorgan Chase & Co. upped their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Finally, StockNews.com upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Saturday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus target price of $144.38.

TD SYNNEX Trading Down 0.1 %

The company has a market cap of $12.21 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.06 and a beta of 1.49. 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 business's 50 day moving average price is $130.95 and its 200-day moving average price is $122.57.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's dividend payout ratio (DPR) is 22.11%.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 1,510 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the sale, the chief financial officer now owns 48,362 shares in the company, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now owns 111,080 shares of the company's stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,289 shares of company stock worth $3,639,500 in the last quarter. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of hedge funds have recently added to or reduced their stakes in the stock. CSS LLC IL grew its holdings in TD SYNNEX by 11.7% during the 4th quarter. CSS LLC IL now owns 11,896 shares of the business services provider's stock worth $1,395,000 after acquiring an additional 1,250 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in TD SYNNEX by 10.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,557 shares of the business services provider's stock worth $22,466,000 after acquiring an additional 17,683 shares during the last quarter. Waverly Advisors LLC grew its holdings in TD SYNNEX by 77.4% during the 4th quarter. Waverly Advisors LLC now owns 4,724 shares of the business services provider's stock worth $554,000 after acquiring an additional 2,061 shares during the last quarter. Woodline Partners LP grew its holdings in TD SYNNEX by 68.6% during the 4th quarter. Woodline Partners LP now owns 182,405 shares of the business services provider's stock worth $21,392,000 after acquiring an additional 74,192 shares during the last quarter. Finally, WBI Investments LLC bought a new stake in TD SYNNEX during the 4th quarter worth about $420,000. Institutional investors own 84.00% of the company's stock.

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.