TD SYNNEX (NYSE:SNX) Reaches New 12-Month High - Still a Buy?

TD SYNNEX Co. (NYSE:SNX - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $143.92 and last traded at $143.62, with a volume of 50187 shares trading hands. The stock had previously closed at $141.30.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Loop Capital reiterated a "buy" rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. StockNews.com upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Tuesday, January 14th. Royal Bank of Canada restated an "outperform" rating and issued a $140.00 price objective on shares of TD SYNNEX in a report on Wednesday, January 15th. Finally, Cfra upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $144.38.

TD SYNNEX Stock Down 2.5 %

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 company has a market cap of $11.77 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.06 and a beta of 1.48. The firm's fifty day simple moving average is $126.35 and its 200 day simple moving average is $120.64.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.27%. 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 payout ratio is 22.11%.

Insiders Place Their Bets

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now owns 111,080 shares of the company's stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,538 shares of company stock worth $4,409,189 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

Institutional Trading of TD SYNNEX

Several institutional investors have recently modified their holdings of the stock. Ieq Capital LLC lifted its position in shares of TD SYNNEX by 50.4% during the 4th quarter. Ieq Capital LLC now owns 2,722 shares of the business services provider's stock worth $319,000 after buying an additional 912 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of TD SYNNEX by 31.9% during the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock worth $56,000 after buying an additional 116 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of TD SYNNEX during the 4th quarter worth approximately $171,000. Truist Financial Corp lifted its position in shares of TD SYNNEX by 17.0% during the 4th quarter. Truist Financial Corp now owns 3,345 shares of the business services provider's stock worth $392,000 after buying an additional 485 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of TD SYNNEX by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 2,750 shares of the business services provider's stock worth $323,000 after buying an additional 141 shares during the last quarter. 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.