TD SYNNEX (NYSE:SNX) Lowered to "Hold" Rating by StockNews.com

StockNews.com downgraded shares of TD SYNNEX (NYSE:SNX - Free Report) from a buy rating to a hold rating in a report released on Friday.

A number of other equities research analysts also recently weighed in on the company. Cfra upgraded TD SYNNEX from a "hold" rating to a "buy" rating and lifted their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada reiterated an "outperform" rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Wednesday, January 15th. Barclays lifted their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.38.

TD SYNNEX Trading Down 0.2 %

Shares of SNX traded down $0.28 during mid-day trading on Friday, reaching $143.05. 201,943 shares of the company were exchanged, compared to its average volume of 696,170. 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. The business has a 50 day simple moving average of $128.94 and a two-hundred day simple moving average of $121.70. 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 52 week low of $98.70 and a 52 week high of $144.27.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, January 24th. 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 at TD SYNNEX

In related news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction that occurred 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 transaction, the director now owns 4,856 shares of the company's stock, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value 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. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,289 shares of company stock valued at $3,639,500. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pathstone Holdings LLC raised its stake in shares of TD SYNNEX by 45.2% in the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider's stock valued at $2,197,000 after buying an additional 5,698 shares during the period. JPMorgan Chase & Co. increased its stake in TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after acquiring an additional 813,634 shares during the last quarter. Stratos Investment Management LLC boosted its holdings in shares of TD SYNNEX by 5.6% in the 3rd quarter. Stratos Investment Management LLC now owns 28,115 shares of the business services provider's stock worth $3,376,000 after purchasing an additional 1,486 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of TD SYNNEX by 170.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,714 shares of the business services provider's stock worth $9,812,000 after purchasing an additional 51,465 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of TD SYNNEX in the 4th quarter worth about $2,260,000. Hedge funds and other 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.