TD SYNNEX Co. (NYSE:SNX) Receives Average Recommendation of "Moderate Buy" from Brokerages

TD SYNNEX Co. (NYSE:SNX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $137.22.

Several equities research analysts have recently weighed in on SNX shares. JPMorgan Chase & Co. cut their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Royal Bank of Canada decreased their price objective on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Barclays cut their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. UBS Group dropped their price objective on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, The Goldman Sachs Group lowered their price objective on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th.

TD SYNNEX Stock Up 1.0%

Shares of TD SYNNEX stock traded up $1.20 during trading on Tuesday, hitting $125.14. 441,789 shares of the stock traded hands, compared to its average volume of 743,930. The stock's fifty day simple moving average is $113.32 and its 200 day simple moving average is $123.28. TD SYNNEX has a 52-week low of $92.23 and a 52-week high of $145.10. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The firm has a market cap of $10.50 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same period in the previous year, the firm posted $2.99 earnings per share. The company's revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, April 11th. TD SYNNEX's dividend payout ratio is currently 21.97%.

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the transaction, the chief financial officer now directly owns 49,843 shares in the company, valued at $6,383,891.44. The trade was a 2.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Miriam Anne Murphy sold 3,000 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was 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 represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,510 shares of company stock worth $3,241,001. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNX. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in TD SYNNEX by 329.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock valued at $25,000 after acquiring an additional 188 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted 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 period. Bessemer Group Inc. boosted 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 period. Versant Capital Management Inc lifted its position in shares of TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after purchasing an additional 183 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of TD SYNNEX in the 1st quarter worth approximately $44,000. Institutional investors 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.