TD SYNNEX Co. (NYSE:SNX - Get Free Report) reached a new 52-week high during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $135.00 to $150.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. TD SYNNEX traded as high as $134.97 and last traded at $134.19, with a volume of 65583 shares changing hands. The stock had previously closed at $132.84.
A number of other brokerages have also recently weighed in on SNX. StockNews.com cut TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Barrington Research reaffirmed an "outperform" rating and set a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. Cfra upgraded 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 report on Friday. Loop Capital restated a "buy" rating and set a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Barclays upped their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Monday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $144.38.
Get Our Latest Report on TD SYNNEX
Insiders Place Their Bets
In related news, insider David R. Vetter sold 20,000 shares of the business's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the transaction, the insider now directly owns 66,381 shares in the company, valued at $8,174,156.34. The trade was a 23.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Simon Leung sold 6,249 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares of the company's stock, valued at $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,876 shares of company stock valued at $8,196,529 in the last quarter. Insiders own 1.90% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in TD SYNNEX in the third quarter valued at about $30,000. UMB Bank n.a. boosted its stake in TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider's stock valued at $35,000 after buying an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in TD SYNNEX in the third quarter valued at $37,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of TD SYNNEX in the 2nd quarter valued at $52,000. Finally, Point72 DIFC Ltd bought a new stake in shares of TD SYNNEX in the 3rd quarter worth about $55,000. 84.00% of the stock is owned by institutional investors.
TD SYNNEX Stock Up 2.4 %
The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.14 and a beta of 1.46. The business's 50-day moving average is $120.48 and its 200-day moving average is $118.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25.
TD SYNNEX Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a yield of 1.29%. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. TD SYNNEX's dividend payout ratio is currently 22.11%.
TD SYNNEX Company Profile
(
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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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