TD SYNNEX Corporation (NYSE:SNX) Given Average Recommendation of “Moderate Buy” by Brokerages

TD SYNNEX Corporation (NYSE:SNX) has earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $294.6667.

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada set a $340.00 target price on shares of TD SYNNEX in a research report on Friday, June 26th. Weiss Ratings cut shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 17th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a research note on Friday, June 26th. JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective for the company in a report on Wednesday, May 27th. Finally, Barrington Research lifted their target price on TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 26th.

TD SYNNEX Stock Down 0.1%

NYSE:SNX opened at $253.62 on Monday. The company has a market cap of $20.28 billion, a PE ratio of 18.15, a PEG ratio of 0.72 and a beta of 1.44. The stock has a 50-day simple moving average of $254.85 and a 200 day simple moving average of $223.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. TD SYNNEX has a 52-week low of $142.22 and a 52-week high of $296.47.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The firm had revenue of $19.57 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same quarter in the prior year, the firm posted $2.99 EPS. The business’s revenue was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, sell-side analysts expect that TD SYNNEX will post 18.01 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, July 17th. TD SYNNEX’s dividend payout ratio (DPR) is currently 13.74%.

Insider Activity at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the sale, the director owned 18,537 shares in the company, valued at $4,503,934.89. This represents a 21.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $256.05, for a total value of $325,951.65. Following the completion of the sale, the director directly owned 5,828 shares of the company’s stock, valued at approximately $1,492,259.40. The trade was a 17.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,273 shares of company stock worth $4,253,752 in the last ninety days. Insiders own 0.70% of the company’s stock.

Institutional Trading of TD SYNNEX

A number of large investors have recently added to or reduced their stakes in SNX. California State Teachers Retirement System raised its holdings in shares of TD SYNNEX by 27,034.6% in the 2nd quarter. California State Teachers Retirement System now owns 22,852,758 shares of the business services provider’s stock valued at $6,109,456,000 after purchasing an additional 22,768,538 shares during the period. BlackRock Inc. acquired a new stake in TD SYNNEX in the 2nd quarter valued at about $1,958,683,000. Norges Bank bought a new position in TD SYNNEX during the fourth quarter worth about $148,559,000. Alyeska Investment Group L.P. bought a new position in TD SYNNEX during the third quarter worth about $135,631,000. Finally, Bank of New York Mellon Corp acquired a new position in TD SYNNEX during the second quarter worth approximately $149,728,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.