TD SYNNEX (NYSE:SNX) Sets New 12-Month High – Here’s Why

TD SYNNEX Co. (NYSE:SNX) hit a new 52-week high on Tuesday . The stock traded as high as $138.31 and last traded at $137.83, with a volume of 641478 shares. The stock had previously closed at $137.17.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Wednesday, January 15th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Barclays raised their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, Barrington Research restated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.38.

TD SYNNEX Stock Up 1.0 %

The firm’s fifty day simple moving average is $121.82 and its 200-day simple moving average is $118.83. The company has a market cap of $11.79 billion, a PE ratio of 17.40, a P/E/G ratio of 1.02 and a beta of 1.46. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.27%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, January 24th. TD SYNNEX’s dividend payout ratio is 20.10%.

Insider Activity at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the firm’s 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 transaction, the director now owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the sale, the chief financial officer now directly owns 48,362 shares of the company’s stock, valued at $5,858,089.06. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,876 shares of company stock valued at $3,319,329. Company insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

Several large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC purchased a new stake in shares of TD SYNNEX during the second quarter worth about $351,000. American Century Companies Inc. increased its holdings in TD SYNNEX by 60.4% during the 2nd quarter. American Century Companies Inc. now owns 87,470 shares of the business services provider’s stock worth $10,094,000 after purchasing an additional 32,948 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of TD SYNNEX by 20.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 47,805 shares of the business services provider’s stock valued at $5,517,000 after purchasing an additional 8,173 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of TD SYNNEX by 7.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,064 shares of the business services provider’s stock valued at $238,000 after buying an additional 143 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of TD SYNNEX by 19.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,215 shares of the business services provider’s stock worth $944,000 after buying an additional 1,342 shares in the last quarter. Institutional investors and hedge funds 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.