TD SYNNEX Corporation (NYSE:SNX) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• TD SYNNEX Corporation (NYSE:SNX) has received an average rating of "Moderate Buy" from analysts, with two hold ratings, nine buy ratings, and one strong buy rating.
• Several analysts have raised their price targets for the stock, with a consensus target price of $169.55, and UBS Group setting a target as high as $187.00.
• The company declared a quarterly dividend of $0.44 per share, with an annualized dividend yield of 1.1%, and a dividend payout ratio of 19.09%.

Shares of TD SYNNEX Corporation (NYSE:SNX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $169.5455.

Several equities research analysts have issued reports on the company. Barclays increased their target price on TD SYNNEX from $140.00 to $164.00 and gave the stock an "equal weight" rating in a research report on Friday, September 26th. Morgan Stanley increased their target price on TD SYNNEX from $173.00 to $181.00 and gave the stock an "overweight" rating in a research report on Friday, September 26th. Zacks Research upgraded TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Raymond James Financial set a $175.00 price target on shares of TD SYNNEX in a research report on Thursday, September 25th. Finally, UBS Group boosted their price target on shares of TD SYNNEX from $154.00 to $187.00 and gave the company a "buy" rating in a research report on Monday, September 29th.

TD SYNNEX Trading Down 2.7%

NYSE:SNX opened at $156.60 on Friday. The company has a market cap of $12.75 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.24 and a beta of 1.43. The stock's fifty day moving average price is $151.15 and its two-hundred day moving average price is $132.75. TD SYNNEX has a 1 year low of $92.23 and a 1 year high of $167.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.20 and a quick ratio of 0.71.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, October 17th. TD SYNNEX's dividend payout ratio (DPR) is 19.09%.

Insider Activity

In other news, Director Ann F. Vezina sold 812 shares of TD SYNNEX stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total transaction of $122,141.04. Following the completion of the sale, the director owned 6,079 shares in the company, valued at approximately $914,403.18. This trade represents a 11.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alim Dhanji sold 1,257 shares of TD SYNNEX stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the sale, the insider owned 10,984 shares of the company's stock, valued at approximately $1,564,231.44. This trade represents a 10.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,930 shares of company stock worth $430,163. 1.00% of the stock is currently owned by insiders.

Institutional Trading of TD SYNNEX

Several institutional investors and hedge funds have recently made changes to their positions in SNX. Merit Financial Group LLC purchased a new stake in shares of TD SYNNEX during the 1st quarter valued at $215,000. UMB Bank n.a. raised its position in shares of TD SYNNEX by 95.8% during the 1st quarter. UMB Bank n.a. now owns 840 shares of the business services provider's stock valued at $87,000 after buying an additional 411 shares in the last quarter. GAMMA Investing LLC raised its position in shares of TD SYNNEX by 16.8% during the 1st quarter. GAMMA Investing LLC now owns 750 shares of the business services provider's stock valued at $78,000 after buying an additional 108 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of TD SYNNEX during the 1st quarter valued at $1,025,000. Finally, CX Institutional raised its position in shares of TD SYNNEX by 1.0% during the 1st quarter. CX Institutional now owns 11,977 shares of the business services provider's stock valued at $1,245,000 after buying an additional 118 shares in the last quarter. Hedge funds and other institutional investors 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.

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