TD SYNNEX (NYSE:SNX) Sets New 1-Year High at $120.98

Shares of TD SYNNEX Co. (NYSE:SNX - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $120.98 and last traded at $120.57, with a volume of 26759 shares changing hands. The stock had previously closed at $119.64.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SNX shares. JPMorgan Chase & Co. upped their price objective on TD SYNNEX from $113.00 to $126.00 and gave the stock a "neutral" rating in a research report on Monday, April 1st. Bank of America lifted their price objective on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, April 2nd. UBS Group raised shares of TD SYNNEX from a "neutral" rating to a "buy" rating and increased their target price for the stock from $115.00 to $145.00 in a research note on Tuesday, April 16th. Barclays lifted their price target on TD SYNNEX from $111.00 to $118.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 27th. Finally, Cfra increased their price target on TD SYNNEX from $110.00 to $113.00 and gave the stock a "hold" rating in a research report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, TD SYNNEX presently has an average rating of "Moderate Buy" and an average target price of $121.82.

TD SYNNEX Price Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.10 and a beta of 1.59. The stock has a 50 day moving average price of $111.38 and a 200-day moving average price of $104.55.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.12. The business had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. On average, analysts forecast that TD SYNNEX Co. will post 11.38 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.33%. TD SYNNEX's dividend payout ratio is currently 23.22%.

Insider Buying and Selling

In related news, CEO Richard T. Hume sold 10,000 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the sale, the chief executive officer now directly owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Dennis Polk sold 20,000 shares of the firm's stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard T. Hume sold 10,000 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the sale, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,000 shares of company stock worth $4,575,600. Company insiders own 1.90% of the company's stock.

Institutional Trading of TD SYNNEX

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SVB Wealth LLC acquired a new stake in shares of TD SYNNEX in the third quarter valued at $202,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of TD SYNNEX in the 3rd quarter valued at about $330,000. Xponance Inc. grew its position in shares of TD SYNNEX by 7.0% during the third quarter. Xponance Inc. now owns 6,316 shares of the business services provider's stock worth $631,000 after buying an additional 412 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of TD SYNNEX by 0.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 110,992 shares of the business services provider's stock worth $11,084,000 after buying an additional 886 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in TD SYNNEX by 4.9% in the third quarter. Bank of New York Mellon Corp now owns 499,935 shares of the business services provider's stock valued at $49,923,000 after acquiring an additional 23,311 shares in the last quarter. 84.00% of the stock is currently 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.