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

Shares of TD SYNNEX Co. (NYSE:SNX) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $134.75.

A number of brokerages recently issued reports on SNX. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Barclays raised their price objective on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Barrington Research restated an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Finally, Loop Capital restated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th.

TD SYNNEX Price Performance

Shares of SNX stock opened at $120.97 on Tuesday. TD SYNNEX has a 52-week low of $96.93 and a 52-week high of $133.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The firm has a market capitalization of $10.29 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.20 and a beta of 1.48. The stock has a 50 day moving average price of $119.03 and a 200 day moving average price of $119.66.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. During the same period last year, the company earned $2.71 EPS. TD SYNNEX’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that TD SYNNEX will post 11.03 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.32%. TD SYNNEX’s dividend payout ratio is currently 20.70%.

Insiders Place Their Bets

In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of TD SYNNEX stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total transaction of $234,590.07. Following the completion of the sale, the director now owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. The trade was a 25.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Several institutional investors and hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC lifted its holdings in shares of TD SYNNEX by 3.2% in the 1st quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after buying an additional 86 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of TD SYNNEX by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after buying an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of TD SYNNEX by 3.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after buying an additional 90 shares during the period. AlphaMark Advisors LLC lifted its holdings in shares of TD SYNNEX by 1.3% in the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock valued at $929,000 after buying an additional 100 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of TD SYNNEX by 11.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.