TD SYNNEX (NYSE:SNX) Reaches New 1-Year High – Still a Buy?

TD SYNNEX Co. (NYSE:SNXGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $138.31 and last traded at $137.83, with a volume of 641478 shares trading hands. The stock had previously closed at $137.17.

Analysts Set New Price Targets

Several research analysts have recently commented on SNX shares. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the company from $122.00 to $147.00 in a report on Friday, January 10th. JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, Barrington Research reissued an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.38.

Get Our Latest Analysis on TD SYNNEX

TD SYNNEX Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The business has a 50 day simple moving average of $121.82 and a 200 day simple moving average of $118.83. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.02 and a beta of 1.46.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.27%. TD SYNNEX’s dividend payout ratio is 20.10%.

Insider Buying and Selling at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the sale, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,876 shares of company stock valued at $3,319,329 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

Large investors have recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the period. UMB Bank n.a. boosted its stake in TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after purchasing an additional 140 shares during the period. HB Wealth Management LLC purchased a new position in TD SYNNEX during the 4th quarter worth $279,000. Ritholtz Wealth Management increased its stake in TD SYNNEX by 10.6% in the fourth quarter. Ritholtz Wealth Management now owns 2,519 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 241 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of TD SYNNEX in the fourth quarter valued at about $2,260,000. 84.00% of the stock is owned by institutional investors and hedge funds.

About TD SYNNEX

(Get Free Report)

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.

Read More

Receive News & Ratings for TD SYNNEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TD SYNNEX and related companies with MarketBeat.com's FREE daily email newsletter.