TD SYNNEX (NYSE:SNX) Reaches New 12-Month High - Here's Why

Key Points

• TD SYNNEX shares reached a new 52-week high of $154.44, with recent trading prices around $153.48 and a trading volume of 85,313 shares.
• Wall Street analysts are optimistic about the company's future, with multiple upgrades and price target increases, the highest now being $170.00 from Bank of America.
• In its latest earnings report, TD SYNNEX surpassed earnings expectations with $2.99 per share and posted $14.95 billion in revenue, marking a 7.2% annual increase.

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $154.44 and last traded at $153.48, with a volume of 85313 shares traded. The stock had previously closed at $151.64.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SNX shares. Royal Bank Of Canada lifted their price target on TD SYNNEX from $145.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, August 22nd. Morgan Stanley set a $155.00 price target on shares of TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Barrington Research reaffirmed an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday, July 11th. Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Finally, Bank of America boosted their price objective on shares of TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $151.30.

TD SYNNEX Stock Performance

The company has a market cap of $12.56 billion, a PE ratio of 17.80, a PEG ratio of 1.24 and a beta of 1.35. 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's 50 day moving average is $146.13 and its 200-day moving average is $129.21.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings results 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 net margin of 1.21% and a return on equity of 11.58%. The business had revenue of $14.95 billion during the quarter, compared to analysts' expectations of $14.30 billion. During the same quarter in the prior year, the company posted $2.73 EPS. The business's revenue for the quarter was up 7.2% on a year-over-year basis. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. On average, research analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. TD SYNNEX's dividend payout ratio is 20.56%.

Insider Activity at TD SYNNEX

In related news, CFO Marshall Witt sold 1,509 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the transaction, the chief financial officer owned 49,563 shares of the company's stock, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann F. Vezina sold 812 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total transaction of $122,141.04. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,888 shares of company stock worth $9,115,025. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On TD SYNNEX

A number of hedge funds have recently added to or reduced their stakes in SNX. Nuveen LLC acquired a new stake in TD SYNNEX during the 1st quarter worth approximately $121,259,000. Norges Bank acquired a new stake in shares of TD SYNNEX in the 2nd quarter valued at $124,618,000. Metropolis Capital Ltd acquired a new stake in shares of TD SYNNEX in the 2nd quarter valued at $115,168,000. Vanguard Group Inc. raised its holdings in shares of TD SYNNEX by 10.1% in the 2nd quarter. Vanguard Group Inc. now owns 8,248,639 shares of the business services provider's stock valued at $1,119,340,000 after purchasing an additional 759,022 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of TD SYNNEX by 16.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider's stock valued at $405,441,000 after purchasing an additional 564,473 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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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