TD SYNNEX (NYSE:SNX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of TD SYNNEX (NYSE:SNX) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Other analysts have also recently issued reports about the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Wednesday, January 15th. JPMorgan Chase & Co. increased 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. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Finally, Barclays increased 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $144.25 on Friday. The business’s 50 day simple moving average is $130.53 and its 200 day simple moving average is $122.36. TD SYNNEX has a one year low of $99.95 and a one year high of $144.48. The stock has a market capitalization of $12.21 billion, a PE ratio of 18.12, a PEG ratio of 1.06 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX Increases Dividend

The company also recently announced 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. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio is presently 22.11%.

Insider Transactions at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,289 shares of company stock valued at $3,639,500 over the last ninety days. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC raised its position in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the last quarter. Bessemer Group Inc. raised its position in TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after buying an additional 152 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in TD SYNNEX in the 3rd quarter valued at $30,000. UMB Bank n.a. raised its position in TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after buying an additional 140 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of TD SYNNEX during the 3rd quarter valued at $55,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.