TD SYNNEX Co. (NYSE:SNX) Receives $127.33 Consensus Target Price from Brokerages

Shares of TD SYNNEX Co. (NYSE:SNX) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $127.33.

A number of equities analysts have weighed in on the stock. Bank of America dropped their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Wednesday, June 26th. Royal Bank of Canada upgraded shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $135.00 to $140.00 in a research report on Monday, July 15th. Barclays upped their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. Finally, Cfra upped their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th.

Insider Activity

In other news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the sale, the chief executive officer now owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,513 shares of company stock valued at $3,869,053. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in TD SYNNEX by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after buying an additional 1,261,474 shares during the period. Nordea Investment Management AB increased its stake in TD SYNNEX by 38.5% in the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after buying an additional 421,908 shares during the period. Ninety One UK Ltd increased its stake in TD SYNNEX by 131.0% in 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 buying an additional 777,924 shares during the period. Pacer Advisors Inc. increased its stake in TD SYNNEX by 33,158.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after buying an additional 1,331,988 shares during the period. Finally, Lyrical Asset Management LP grew its holdings in TD SYNNEX by 0.3% during the 4th quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock worth $137,513,000 after acquiring an additional 3,571 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Down 0.1 %

Shares of SNX stock opened at $117.71 on Wednesday. TD SYNNEX has a 12 month low of $89.73 and a 12 month high of $133.85. The stock has a market cap of $10.06 billion, a P/E ratio of 16.49, a P/E/G ratio of 1.17 and a beta of 1.52. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $123.18 and a two-hundred day simple moving average of $113.62.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). The firm had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $14.12 billion. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. On average, research analysts expect that TD SYNNEX will post 11.24 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, July 12th. TD SYNNEX’s dividend payout ratio is currently 22.41%.

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.