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

TD SYNNEX Co. (NYSE:SNX - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $138.31 and last traded at $137.83, with a volume of 641478 shares trading hands. The stock had previously closed at $137.17.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barrington Research reaffirmed an "outperform" rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Barclays lifted their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Wednesday, January 15th. Finally, Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $144.38.

TD SYNNEX Price Performance

The business has a fifty day simple moving average of $121.82 and a 200-day simple moving average of $118.83. The stock has a market capitalization of $11.99 billion, a P/E ratio of 17.69, a PEG ratio of 1.02 and a beta of 1.46. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.25%. This is a boost from TD SYNNEX's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, January 24th. TD SYNNEX's dividend payout ratio (DPR) is presently 20.10%.

Insider Activity

In related news, CFO Marshall Witt sold 1,510 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the sale, the chief financial officer now directly owns 48,362 shares of the company's stock, valued at approximately $5,858,089.06. This represents a 3.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Simon Leung sold 6,249 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company's stock, valued at $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,876 shares of company stock worth $3,319,329. Company insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On TD SYNNEX

Large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider's stock worth $891,665,000 after purchasing an additional 1,154,651 shares during the period. JPMorgan Chase & Co. boosted its position in shares of TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock valued at $361,707,000 after acquiring an additional 813,634 shares during the period. State Street Corp grew its stake in TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider's stock valued at $262,943,000 after acquiring an additional 15,995 shares in the last quarter. AQR Capital Management LLC lifted its stake in TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock worth $178,421,000 after purchasing an additional 269,759 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in TD SYNNEX by 39.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider's stock valued at $99,123,000 after purchasing an additional 231,715 shares during the period. Hedge funds and other institutional investors own 84.00% of the company's stock.

TD SYNNEX Company Profile

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.