Royal Bank of Canada Reaffirms “Outperform” Rating for TD SYNNEX (NYSE:SNX)

Royal Bank of Canada reiterated their outperform rating on shares of TD SYNNEX (NYSE:SNXFree Report) in a research report released on Wednesday,Benzinga reports. They currently have a $140.00 target price on the business services provider’s stock.

A number of other equities analysts also recently commented on the stock. Loop Capital reissued a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. JPMorgan Chase & Co. boosted their price target on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Barclays raised their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Barrington Research reiterated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. Finally, Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their price target for the company from $122.00 to $147.00 in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and an average price target of $144.38.

Read Our Latest Stock Analysis on SNX

TD SYNNEX Trading Down 0.1 %

NYSE SNX opened at $136.98 on Wednesday. The company’s 50-day simple moving average is $121.55 and its two-hundred day simple moving average is $118.58. TD SYNNEX has a one year low of $98.70 and a one year high of $138.31. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 1.24 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be issued a $0.44 dividend. The ex-dividend date is Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.28%. TD SYNNEX’s payout ratio is presently 20.10%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the transaction, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,876 shares of company stock worth $3,319,329 in the last three months. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC increased its stake in shares of TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in TD SYNNEX in the 3rd quarter worth about $30,000. UMB Bank n.a. increased its stake in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after buying an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of TD SYNNEX during the third quarter valued at approximately $37,000. Finally, Point72 DIFC Ltd purchased a new position in shares of TD SYNNEX in the third quarter valued at approximately $55,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Company Profile

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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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Analyst Recommendations for TD SYNNEX (NYSE:SNX)

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