TD SYNNEX (NYSE:SNX) Given New $156.00 Price Target at Barrington Research

TD SYNNEX (NYSE:SNX) had its target price raised by Barrington Research from $138.00 to $156.00 in a report issued on Thursday morning, MarketBeat reports. The brokerage currently has an outperform rating on the business services provider’s stock.

Several other equities analysts have also recently commented on SNX. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada raised their target price on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Barclays increased their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.75.

TD SYNNEX Stock Performance

NYSE:SNX opened at $129.51 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The firm’s 50-day moving average is $137.49 and its 200-day moving average is $125.29. TD SYNNEX has a 52-week low of $104.40 and a 52-week high of $145.10. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.06 and a beta of 1.51.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.36%. TD SYNNEX’s payout ratio is 22.11%.

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This represents a 15.26 % 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, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,172 shares of company stock valued at $6,353,261. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of TD SYNNEX by 18.4% during the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after purchasing an additional 1,154,651 shares in the last quarter. Norges Bank acquired a new position in TD SYNNEX during the 4th quarter worth $121,199,000. Ninety One UK Ltd boosted its position in TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after buying an additional 1,016,251 shares during the last quarter. Nuveen Asset Management LLC boosted its position in TD SYNNEX by 343.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock valued at $141,913,000 after buying an additional 937,040 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of TD SYNNEX by 37.0% in 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 buying an additional 813,634 shares during the period. Institutional investors own 84.00% of the company’s stock.

About TD SYNNEX

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.