TD SYNNEX Co. (NYSE:SNX) Receives $134.75 Consensus PT from Analysts

Shares of TD SYNNEX Co. (NYSE:SNX) have received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $134.75.

Several research firms have commented on SNX. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Loop Capital reiterated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Barrington Research reiterated an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Barclays boosted their price objective on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th.

TD SYNNEX Stock Performance

NYSE SNX opened at $120.97 on Tuesday. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.20 and a beta of 1.48. TD SYNNEX has a twelve month low of $96.93 and a twelve month high of $133.85. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average of $119.03 and a 200 day moving average of $119.66.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The company had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter in the prior year, the firm posted $2.71 EPS. TD SYNNEX’s quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that TD SYNNEX will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.32%. TD SYNNEX’s payout ratio is currently 20.70%.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total value of $2,414,400.00. Following the completion of the transaction, the director now owns 171,080 shares in the company, valued at approximately $20,652,777.60. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SNX. V Square Quantitative Management LLC purchased a new position in TD SYNNEX in the third quarter worth approximately $30,000. UMB Bank n.a. lifted its position in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after buying an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of TD SYNNEX during the 3rd quarter worth approximately $37,000. Blue Trust Inc. lifted its position in shares of TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after buying an additional 123 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after buying an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.