TD SYNNEX (NYSE:SNX) Sets New 1-Year High at $120.98

TD SYNNEX Co. (NYSE:SNX)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $120.98 and last traded at $120.57, with a volume of 26759 shares changing hands. The stock had previously closed at $119.64.

Analyst Ratings Changes

SNX has been the topic of a number of research analyst reports. UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $115.00 to $145.00 in a research note on Tuesday, April 16th. Cfra increased their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research report on Tuesday, March 26th. Bank of America boosted their price target on shares of TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Barclays upped their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 target price (up from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned 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 a consensus target price of $121.82.

TD SYNNEX Price Performance

The company has a market cap of $10.74 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.10 and a beta of 1.59. The stock’s 50-day simple moving average is $111.02 and its 200 day simple moving average is $104.34. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.12. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The firm had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. On average, equities research analysts anticipate that TD SYNNEX Co. will post 11.38 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, April 11th. TD SYNNEX’s dividend payout ratio is currently 23.22%.

Insiders Place Their Bets

In other news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the sale, the chief executive officer now directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock worth $4,575,600 over the last three months. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

A number of large investors have recently modified their holdings of the company. FMR LLC increased its holdings in TD SYNNEX by 4.7% in the third quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock valued at $684,423,000 after buying an additional 307,844 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of TD SYNNEX by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider’s stock valued at $578,934,000 after acquiring an additional 371,322 shares during the last quarter. Nordea Investment Management AB lifted its stake in TD SYNNEX by 38.5% during the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after purchasing an additional 421,908 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in TD SYNNEX by 33,158.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock valued at $143,767,000 after purchasing an additional 1,331,988 shares in the last quarter. Finally, Lyrical Asset Management LP increased its stake in TD SYNNEX by 0.3% in the fourth quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock valued at $137,513,000 after purchasing an additional 3,571 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.