StockNews.com upgraded shares of TD SYNNEX (NYSE:SNX - Free Report) from a hold rating to a buy rating in a research note released on Saturday morning.
SNX has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Wednesday, January 15th. Cfra raised shares of TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Barclays raised their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their target price on TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $144.38.
Read Our Latest Analysis on SNX
TD SYNNEX Stock Down 0.1 %
SNX stock traded down $0.14 during trading on Friday, reaching $144.29. 70,289 shares of the company traded hands, compared to its average volume of 659,721. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth 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 has a 50 day simple moving average of $130.95 and a 200 day simple moving average of $122.57. TD SYNNEX has a 12 month low of $99.95 and a 12 month high of $144.95.
TD SYNNEX Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend 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 Activity at TD SYNNEX
In other news, CEO Patrick Zammit sold 6,823 shares of the company's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now owns 4,856 shares of the company's stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,289 shares of company stock worth $3,639,500 over the last three months. Company insiders own 1.90% of the company's stock.
Institutional Trading of TD SYNNEX
Hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in TD SYNNEX in the third quarter valued at $30,000. Stratos Investment Management LLC increased its stake 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 valued at $3,376,000 after purchasing an additional 1,486 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in 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 during the period. Foundations Investment Advisors LLC purchased a new position in TD SYNNEX during the third quarter worth approximately $212,000. Finally, Stanley Laman Group Ltd. grew its holdings in TD SYNNEX by 6.7% in the third quarter. Stanley Laman Group Ltd. now owns 25,586 shares of the business services provider's stock valued at $3,072,000 after purchasing an additional 1,601 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.
About TD SYNNEX
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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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