Analysts Set TD SYNNEX Corporation (NYSE:SNX) Target Price at $294.67

Shares of TD SYNNEX Corporation (NYSE:SNX) have been given a consensus recommendation of “Buy” by the ten brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $294.6667.

Several equities analysts have issued reports on the stock. Barclays upped their target price on shares of TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target for the company in a research note on Wednesday, May 27th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a report on Friday, June 26th. Zacks Research upgraded shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Finally, Barrington Research lifted their target price on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 26th.

TD SYNNEX Trading Down 2.4%

Shares of NYSE:SNX opened at $243.99 on Friday. The company has a market cap of $19.51 billion, a P/E ratio of 17.47, a PEG ratio of 0.70 and a beta of 1.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 0.64. TD SYNNEX has a 1 year low of $139.23 and a 1 year high of $296.47. The stock’s fifty day moving average price is $257.30 and its 200-day moving average price is $202.03.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The company had revenue of $19.57 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same period last year, the firm posted $2.99 earnings per share. TD SYNNEX’s revenue was up 31.0% compared to the same quarter last year. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Sell-side analysts expect that TD SYNNEX will post 18.02 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, July 17th. TD SYNNEX’s dividend payout ratio is 13.74%.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $242.97, for a total value of $1,214,850.00. Following the transaction, the director owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. This represents a 21.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,000 shares of company stock valued at $4,933,700 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of TD SYNNEX by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock worth $1,749,000 after buying an additional 1,460 shares during the last quarter. Goldman Sachs Group Inc. raised its position in TD SYNNEX by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock worth $18,631,000 after acquiring an additional 9,815 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in TD SYNNEX by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock worth $21,226,000 after acquiring an additional 12,615 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in TD SYNNEX during the 2nd quarter worth approximately $818,000. Finally, EverSource Wealth Advisors LLC raised its stake in TD SYNNEX by 17.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock worth $116,000 after acquiring an additional 126 shares during the period. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Company Profile

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.