TD SYNNEX (NYSE:SNX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of TD SYNNEX (NYSE:SNX) from a hold rating to a buy rating in a report released on Saturday.

Several other analysts also recently issued reports on the company. Barclays raised their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised their price target on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and an average target price of $144.38.

TD SYNNEX Trading Up 1.9 %

NYSE:SNX opened at $144.25 on Friday. 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 business’s 50 day moving average is $130.95 and its two-hundred day moving average is $122.57. TD SYNNEX has a 52 week low of $99.95 and a 52 week high of $144.48. The company has a market cap of $12.21 billion, a PE ratio of 18.12, a P/E/G ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a dividend of $0.44 per share. The ex-dividend date was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.22%. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insider Activity

In related news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now directly owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the transaction, the chief financial officer now owns 48,362 shares in the company, valued at $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,289 shares of company stock worth $3,639,500. 1.90% of the stock is owned by company insiders.

Institutional Trading of TD SYNNEX

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock worth $901,323,000 after buying an additional 29,659 shares during the period. FMR LLC increased its stake in shares of TD SYNNEX by 3.2% in the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock worth $898,738,000 after purchasing an additional 237,587 shares during the period. Brave Warrior Advisors LLC increased its stake in shares of TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock worth $486,380,000 after purchasing an additional 451,557 shares during the period. JPMorgan Chase & Co. increased its stake in shares of TD SYNNEX by 10.7% in the fourth quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock worth $391,188,000 after purchasing an additional 323,282 shares during the period. Finally, Ninety One UK Ltd increased its stake in shares of TD SYNNEX by 75.4% in the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after purchasing an additional 1,016,251 shares during the period. Institutional investors and hedge funds 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.