TD SYNNEX (NYSE:SNX) Hits New 12-Month High – Time to Buy?

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

Analyst Upgrades and Downgrades

SNX has been the topic of a number of recent analyst reports. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Barclays upped their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.38.

TD SYNNEX Trading Up 1.3 %

The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.05 and a beta of 1.46. The company’s 50-day moving average is $125.37 and its 200-day moving average is $120.26.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, January 24th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is presently 20.10%.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the transaction, the chief financial officer now owns 48,362 shares of the company’s stock, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,715 shares of company stock worth $3,433,500. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Several large investors have recently bought and sold shares of the business. FMR LLC raised its holdings in TD SYNNEX by 18.4% during the third 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 in the last quarter. JPMorgan Chase & Co. grew its position in shares of TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after acquiring an additional 813,634 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after acquiring an additional 1,016,251 shares during the period. State Street Corp raised its position in TD SYNNEX by 0.7% in the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock valued at $262,943,000 after purchasing an additional 15,995 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in TD SYNNEX by 39.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock worth $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.

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.