TD SYNNEX (NYSE:SNX) Given New $165.00 Price Target at Royal Bank of Canada

TD SYNNEX (NYSE:SNX) had its target price upped by Royal Bank of Canada from $140.00 to $165.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Barclays boosted their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 15th. JPMorgan Chase & Co. increased their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Finally, Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.50.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $141.61 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 stock has a fifty day moving average of $132.56 and a 200 day moving average of $123.30. The firm has a market capitalization of $11.95 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.07 and a beta of 1.49. TD SYNNEX has a 52 week low of $101.21 and a 52 week high of $145.10.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a $0.44 dividend. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s dividend payout ratio is currently 22.11%.

Insider Activity

In related news, CFO Marshall Witt sold 1,510 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the sale, the chief financial officer now directly owns 48,362 shares of the company’s stock, valued at approximately $5,858,089.06. This represents a 3.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares in the company, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,289 shares of company stock worth $3,639,500 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Several institutional investors have recently modified their holdings of SNX. Vanguard Group Inc. lifted its stake in TD SYNNEX by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock valued at $901,323,000 after acquiring an additional 29,659 shares during the period. FMR LLC lifted its position in TD SYNNEX by 3.2% during the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock valued at $898,738,000 after purchasing an additional 237,587 shares during the period. Brave Warrior Advisors LLC lifted its position in TD SYNNEX by 12.2% during the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after purchasing an additional 451,557 shares during the period. JPMorgan Chase & Co. boosted its holdings in 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 last quarter. Finally, Ninety One UK Ltd grew its position in 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 worth $277,316,000 after purchasing an additional 1,016,251 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.