Analysts Set TD SYNNEX Corporation (NYSE:SNX) Price Target at $142.56

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) has been given an average rating of "Moderate Buy" by the nine ratings firms that are covering the stock, Marketbeat.com 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 price target among brokerages that have covered the stock in the last year is $142.56.

A number of equities research analysts have recently commented on the company. Loop Capital increased their price objective on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Monday. The Goldman Sachs Group decreased their price target on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Barclays set a $140.00 target price on shares of TD SYNNEX in a research note on Tuesday, June 24th. Finally, Cfra decreased their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th.

Insider Activity

In related news, CFO Marshall Witt sold 1,509 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the sale, the chief financial officer directly owned 49,563 shares in the company, valued at approximately $6,212,722.05. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 sale, the insider owned 14,883 shares of the company's stock, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,819 shares of company stock worth $9,143,874. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

A number of institutional investors and hedge funds have recently modified their holdings of SNX. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in TD SYNNEX by 329.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock worth $25,000 after acquiring an additional 188 shares during the period. Bessemer Group Inc. increased its stake in shares of TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after purchasing an additional 152 shares during the period. Versant Capital Management Inc lifted its position in shares of TD SYNNEX by 115.1% during 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 last quarter. Cullen Frost Bankers Inc. bought a new stake in TD SYNNEX during the 1st quarter valued at approximately $44,000. Finally, Quarry LP acquired a new stake in TD SYNNEX in the 1st quarter valued at approximately $51,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Price Performance

Shares of NYSE:SNX traded up $3.58 during trading on Wednesday, reaching $139.40. The company had a trading volume of 1,250,300 shares, compared to its average volume of 744,298. The firm's fifty day moving average is $122.51 and its 200 day moving average is $124.55. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26. The firm has a market capitalization of $11.70 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 1.12 and a beta of 1.30. TD SYNNEX has a twelve month low of $92.23 and a twelve month high of $145.10.

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

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.26%. TD SYNNEX's dividend payout ratio (DPR) is 20.56%.

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.