TD SYNNEX (NYSE:SNX) Raised to "Buy" at Wall Street Zen

Wall Street Zen upgraded shares of TD SYNNEX (NYSE:SNX - Free Report) from a hold rating to a buy rating in a report published on Friday morning.

Several other equities research analysts also recently commented on the company. Morgan Stanley set a $155.00 price objective on TD SYNNEX and gave the stock an "overweight" rating in a report on Wednesday, June 25th. The Goldman Sachs Group reduced their price objective on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, March 28th. Barrington Research reiterated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Monday, June 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $145.00 price objective on shares of TD SYNNEX in a report on Wednesday, June 25th. Finally, UBS Group reduced their price objective on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, TD SYNNEX currently has an average rating of "Moderate Buy" and a consensus price target of $142.56.

TD SYNNEX Trading Up 0.5%

Shares of TD SYNNEX stock traded up $0.70 on Friday, hitting $135.48. The stock had a trading volume of 1,229,314 shares, compared to its average volume of 742,032. The stock's 50-day simple moving average is $121.26 and its two-hundred day simple moving average is $124.39. TD SYNNEX has a one year low of $92.23 and a one year high of $145.10. The stock has a market cap of $11.37 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.11 and a beta of 1.29. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 EPS 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 last year, the firm posted $2.73 earnings per share. The company's revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors 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 dividend on an annualized basis and a dividend yield of 1.30%. TD SYNNEX's dividend payout ratio (DPR) is presently 20.56%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the sale, the insider directly owned 14,883 shares of the company's stock, valued at $1,637,130. This trade represents a 16.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the chief financial officer directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,819 shares of company stock worth $9,143,874. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC boosted its position in shares of TD SYNNEX by 21.5% during the 4th quarter. Sanctuary Advisors LLC now owns 7,901 shares of the business services provider's stock valued at $927,000 after acquiring an additional 1,399 shares during the last quarter. Truist Financial Corp boosted its position in shares of TD SYNNEX by 17.0% during the 4th quarter. Truist Financial Corp now owns 3,345 shares of the business services provider's stock valued at $392,000 after acquiring an additional 485 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of TD SYNNEX by 31.9% during the 4th quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock valued at $56,000 after acquiring an additional 116 shares during the last quarter. Ieq Capital LLC boosted its position in shares of TD SYNNEX by 50.4% during the 4th quarter. Ieq Capital LLC now owns 2,722 shares of the business services provider's stock valued at $319,000 after acquiring an additional 912 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in TD SYNNEX by 976.6% in the fourth quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock worth $119,000 after buying an additional 918 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.