TD SYNNEX Co. (NYSE:SNX) Receives Average Recommendation of “Moderate Buy” from Analysts

TD SYNNEX Co. (NYSE:SNX) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $138.00.

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reduced their price target on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Wall Street Zen cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. UBS Group reduced their price target on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Barrington Research reiterated an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. reduced their price target on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, April 11th.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares of the company’s stock, valued at $6,383,891.44. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the sale, the insider now directly owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in TD SYNNEX by 329.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider’s stock worth $25,000 after purchasing an additional 188 shares during the last quarter. Bessemer Group Inc. lifted its stake in TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after purchasing an additional 152 shares during the last quarter. Versant Capital Management Inc lifted its stake in TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock worth $36,000 after purchasing an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in TD SYNNEX during the first quarter worth about $44,000. Finally, Quarry LP bought a new stake in shares of TD SYNNEX in the 1st quarter valued at about $51,000. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

NYSE:SNX opened at $123.20 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The business has a fifty day simple moving average of $116.05 and a two-hundred day simple moving average of $123.82. TD SYNNEX has a 1 year low of $92.23 and a 1 year high of $145.10. The company has a market capitalization of $10.34 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.06 and a beta of 1.29.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.99 earnings per share. On average, analysts expect that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX’s dividend payout ratio is 21.97%.

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.