Brokerages Set TD SYNNEX Co. (NYSE:SNX) Target Price at $134.75

TD SYNNEX Co. (NYSE:SNX) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $134.75.

A number of equities analysts have weighed in on the stock. Loop Capital reiterated a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Barclays raised their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Barrington Research restated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, 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.

Insider Transactions at TD SYNNEX

In related news, CFO Marshall Witt sold 5,653 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total value of $684,860.95. Following the completion of the transaction, the chief financial officer now directly owns 38,279 shares in the company, valued at approximately $4,637,500.85. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $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 sold 69,645 shares of company stock valued at $8,415,189. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SNX. FMR LLC boosted its stake in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after purchasing an additional 1,154,651 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in TD SYNNEX by 58.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after acquiring an additional 1,006,569 shares during the period. Ninety One UK Ltd grew its position in TD SYNNEX by 131.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after acquiring an additional 777,924 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in TD SYNNEX by 560.0% in the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after purchasing an additional 315,424 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of TD SYNNEX by 21.1% during the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after purchasing an additional 269,759 shares during the period. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Trading Down 3.0 %

NYSE:SNX opened at $116.49 on Friday. TD SYNNEX has a 12 month low of $98.70 and a 12 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 firm’s 50 day moving average is $120.27 and its 200 day moving average is $119.05. The stock has a market capitalization of $9.91 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47.

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

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.37%. TD SYNNEX’s payout ratio is currently 20.70%.

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.