TD SYNNEX (NYSE:SNX) Given a $155.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $155.00 price target on TD SYNNEX (NYSE:SNX - Free Report) in a research note released on Wednesday, MarketBeat.com reports. The firm currently has an overweight rating on the business services provider's stock.

Several other research firms have also recently issued reports on SNX. Barclays lowered their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. UBS Group lowered their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Cfra lowered their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Royal Bank Of Canada lowered their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Barrington Research reiterated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Monday, June 23rd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $141.44.

TD SYNNEX Stock Performance

SNX traded down $2.28 during midday trading on Wednesday, hitting $134.72. 1,917,158 shares of the company traded hands, compared to its average volume of 742,475. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $11.31 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.15 and a beta of 1.29. The company's 50-day moving average is $121.26 and its 200 day moving average is $124.38. TD SYNNEX has a 52 week low of $92.23 and a 52 week high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.28. The business had revenue of $14.95 billion for the quarter, compared to analysts' expectations of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.73 EPS. On average, research analysts expect that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.31%. The ex-dividend date is Friday, July 11th. TD SYNNEX's dividend payout ratio is 20.56%.

Insider Buying and Selling

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the sale, the insider now directly owns 14,883 shares of the company's stock, valued at $1,637,130. This trade represents a 16.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the sale, the chief financial officer now directly owns 49,563 shares of the company's stock, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in TD SYNNEX by 20.1% during the 4th quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock valued at $11,448,000 after buying an additional 16,310 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of TD SYNNEX during the 4th quarter valued at approximately $5,158,000. Sei Investments Co. boosted its position in shares of TD SYNNEX by 25.5% during the 4th quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock valued at $8,297,000 after acquiring an additional 14,379 shares during the last quarter. IFP Advisors Inc boosted its position in shares of TD SYNNEX by 976.6% during the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock valued at $119,000 after acquiring an additional 918 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of TD SYNNEX by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider's stock valued at $59,512,000 after acquiring an additional 9,915 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.