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

Shares of TD SYNNEX Co. (NYSE:SNX) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $127.33.

SNX has been the subject of a number of recent analyst reports. Bank of America decreased their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. UBS Group raised their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Cfra raised their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research note on Tuesday, March 26th. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $135.00 to $140.00 in a research note on Monday, July 15th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 26th.

TD SYNNEX Trading Down 1.7 %

Shares of NYSE:SNX opened at $115.35 on Wednesday. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.14 and a beta of 1.52. TD SYNNEX has a 1-year low of $89.73 and a 1-year high of $133.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26. The company has a 50 day moving average price of $123.37 and a 200 day moving average price of $113.44.

TD SYNNEX (NYSE:SNX) last issued its 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 business had revenue of $13.95 billion for 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 anticipate that TD SYNNEX will post 11.24 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.41%.

Insider Activity

In other news, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the transaction, the insider now owns 134,706 shares in the company, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,513 shares of company stock worth $3,869,053. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SNX. Pacer Advisors Inc. raised its holdings 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 acquiring an additional 1,331,988 shares during the period. Vanguard Group Inc. raised its holdings 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 acquiring an additional 1,261,474 shares during the period. Norges Bank bought a new position in TD SYNNEX in the 4th quarter worth $79,506,000. Lind Value II ApS bought a new position in TD SYNNEX in the 1st quarter worth $77,858,000. Finally, Lord Abbett & CO. LLC bought a new position in TD SYNNEX in the 1st quarter worth $57,981,000. 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.