Brokerages Set TD SYNNEX Co. (NYSE:SNX) PT at $134.75

Shares of TD SYNNEX Co. (NYSE:SNX) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $144.38.

A number of brokerages have recently weighed in on SNX. Loop Capital restated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. JPMorgan Chase & Co. upped their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays upped their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $135.98 on Wednesday. TD SYNNEX has a 12-month low of $98.70 and a 12-month high of $136.07. The business’s fifty day simple moving average is $120.48 and its 200-day simple moving average is $118.02. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company has a market cap of $11.57 billion, a PE ratio of 17.59, a PEG ratio of 1.14 and a beta of 1.46.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.29%. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insiders Place Their Bets

In related news, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the sale, the chief financial officer now owns 48,362 shares of the company’s stock, valued at approximately $5,858,089.06. The trade was a 3.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David R. Vetter sold 20,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the transaction, the insider now directly owns 66,381 shares in the company, valued at approximately $8,174,156.34. The trade was a 23.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,876 shares of company stock worth $5,782,129. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SNX. Assenagon Asset Management S.A. acquired a new stake in TD SYNNEX in the 4th quarter worth about $2,260,000. Benson Investment Management Company Inc. raised its holdings in shares of TD SYNNEX by 0.6% during the fourth quarter. Benson Investment Management Company Inc. now owns 33,360 shares of the business services provider’s stock valued at $3,912,000 after acquiring an additional 207 shares during the last quarter. Fulton Bank N.A. lifted its position in shares of TD SYNNEX by 12.1% in the fourth quarter. Fulton Bank N.A. now owns 3,620 shares of the business services provider’s stock valued at $425,000 after acquiring an additional 392 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of TD SYNNEX by 37.8% in the fourth quarter. GAMMA Investing LLC now owns 642 shares of the business services provider’s stock worth $75,000 after acquiring an additional 176 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Institutional investors and hedge funds 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.