TD SYNNEX Co. (NYSE:SNX) Given Consensus Rating of "Moderate Buy" by Analysts

TD SYNNEX Co. (NYSE:SNX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $137.22.

Several equities analysts have recently weighed in on the company. Cfra decreased their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Barclays decreased their target price on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. UBS Group decreased their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Friday, March 28th. Royal Bank of Canada decreased their target price on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. decreased 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.

TD SYNNEX Stock Performance

Shares of SNX opened at $123.52 on Friday. TD SYNNEX has a 12 month low of $92.23 and a 12 month high of $145.10. The stock has a fifty day moving average price of $113.45 and a 200-day moving average price of $123.58. 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 $10.37 billion, a PE ratio of 15.52, a P/E/G ratio of 1.06 and a beta of 1.29.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its 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). The firm had revenue of $14.53 billion during the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business's revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $2.99 EPS. Equities research analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.42%. TD SYNNEX's payout ratio is 21.97%.

Insider Transactions at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. increased its stake 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 purchasing an additional 152 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in TD SYNNEX by 329.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock valued at $25,000 after buying an additional 188 shares during the last quarter. Versant Capital Management Inc grew its holdings in TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after buying an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in TD SYNNEX during the 1st quarter valued at $44,000. Finally, Blue Trust Inc. grew its holdings in TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after buying an additional 129 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.

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