TD SYNNEX (NYSE:SNX) Reaches New 1-Year High on Analyst Upgrade

TD SYNNEX Co. (NYSE:SNX)’s stock price hit a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $135.00 to $150.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. TD SYNNEX traded as high as $134.97 and last traded at $134.19, with a volume of 65583 shares changing hands. The stock had previously closed at $132.84.

Several other brokerages also recently weighed in on SNX. Loop Capital reaffirmed a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price target for the company from $122.00 to $147.00 in a report on Friday. Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Barclays boosted their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.38.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, 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 completion of the transaction, the insider now owns 66,381 shares in the company, valued at $8,174,156.34. This trade represents a 23.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the sale, the chief financial officer now directly owns 48,362 shares in the company, valued at approximately $5,858,089.06. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,876 shares of company stock worth $8,196,529 over the last 90 days. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its stake in TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after buying an additional 1,154,651 shares during the period. Pacer Advisors Inc. increased its position in TD SYNNEX by 58.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after purchasing an additional 1,006,569 shares during the period. JPMorgan Chase & Co. increased its position in TD SYNNEX by 37.0% during 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 period. Thrivent Financial for Lutherans increased its position in TD SYNNEX by 560.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after purchasing an additional 315,424 shares during the period. Finally, AQR Capital Management LLC increased its position in TD SYNNEX by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after purchasing an additional 269,759 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 1.9 %

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 firm has a market cap of $11.51 billion, a PE ratio of 17.51, a P/E/G ratio of 1.14 and a beta of 1.46. The business’s 50-day simple moving average is $120.48 and its 200 day simple moving average is $118.02.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be issued a $0.44 dividend. 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 1.30%. The ex-dividend date of this dividend is Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.11%.

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.