TD SYNNEX Co. (NYSE:SNX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $144.27 and last traded at $143.85, with a volume of 65281 shares changing hands. The stock had previously closed at $143.46.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. Barclays lifted their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. StockNews.com cut TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Friday. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, TD SYNNEX currently has an average rating of "Moderate Buy" and an average target price of $144.38.
Check Out Our Latest Research Report on SNX
TD SYNNEX Price Performance
The business has a fifty day moving average price of $128.94 and a 200-day moving average price of $121.70. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $12.11 billion, a PE ratio of 17.97, a PEG ratio of 1.06 and a beta of 1.49.
TD SYNNEX Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a $0.44 dividend. This is a boost from TD SYNNEX's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX's dividend payout ratio is presently 22.11%.
Insider Transactions at TD SYNNEX
In related 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 completion of the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at $23,681,372. This represents a 3.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated 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 sale, the director now owns 111,080 shares of the company's stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,289 shares of company stock worth $3,639,500. 1.90% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On TD SYNNEX
Several institutional investors have recently bought and sold shares of SNX. SG Americas Securities LLC purchased a new stake in TD SYNNEX during the 3rd quarter valued at about $605,000. CWM LLC raised its position in TD SYNNEX by 15.0% during the 3rd quarter. CWM LLC now owns 8,646 shares of the business services provider's stock valued at $1,038,000 after purchasing an additional 1,129 shares during the last quarter. UMB Bank n.a. raised its position in TD SYNNEX by 99.3% during 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 during the last quarter. Ritholtz Wealth Management bought a new position in TD SYNNEX during the 3rd quarter valued at approximately $274,000. Finally, Wedge Capital Management L L P NC raised its position in TD SYNNEX by 6.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 33,276 shares of the business services provider's stock valued at $3,996,000 after purchasing an additional 2,130 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.
About TD SYNNEX
(
Get Free Report)
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.
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