TD SYNNEX Corporation (NYSE:SNX) Receives Consensus Rating of “Moderate Buy” from Analysts

TD SYNNEX Corporation (NYSE:SNX) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $190.50.

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group increased their target price on TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. JPMorgan Chase & Co. increased their target price on TD SYNNEX from $185.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Royal Bank Of Canada increased their target price on TD SYNNEX from $210.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Barclays increased their target price on TD SYNNEX from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 1st. Finally, Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th.

TD SYNNEX Price Performance

NYSE:SNX opened at $227.90 on Tuesday. The firm has a market capitalization of $18.32 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 1.15 and a beta of 1.40. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.41. TD SYNNEX has a 12-month low of $112.27 and a 12-month high of $231.62. The stock’s 50 day moving average price is $180.17 and its two-hundred day moving average price is $163.43.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $15.59 billion. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.80 earnings per share. On average, analysts anticipate that TD SYNNEX will post 15.69 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were paid a dividend of $0.48 per share. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. TD SYNNEX’s dividend payout ratio (DPR) is 15.96%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CFO David Gregory Jordan sold 3,225 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $189.46, for a total transaction of $611,008.50. Following the transaction, the chief financial officer owned 14,035 shares in the company, valued at $2,659,071.10. This trade represents a 18.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick Zammit sold 13,900 shares of TD SYNNEX stock in a transaction on Friday, February 6th. The shares were sold at an average price of $171.57, for a total value of $2,384,823.00. Following the completion of the transaction, the chief executive officer directly owned 170,928 shares of the company’s stock, valued at $29,326,116.96. This represents a 7.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,317 shares of company stock worth $3,627,599 in the last ninety days. 0.70% of the stock is currently owned by company insiders.

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. State Street Corp raised its holdings in TD SYNNEX by 0.4% in the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock valued at $388,535,000 after acquiring an additional 9,024 shares in the last quarter. Ninety One UK Ltd raised its holdings in TD SYNNEX by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider’s stock valued at $334,876,000 after acquiring an additional 258,630 shares in the last quarter. LSV Asset Management raised its holdings in TD SYNNEX by 16.1% in the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock valued at $313,471,000 after acquiring an additional 288,625 shares in the last quarter. Geode Capital Management LLC raised its holdings in TD SYNNEX by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock valued at $230,315,000 after acquiring an additional 99,090 shares in the last quarter. Finally, Metropolis Capital Ltd raised its holdings in TD SYNNEX by 9.5% in the 1st quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider’s stock valued at $216,169,000 after acquiring an additional 111,222 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

About TD SYNNEX

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.