TD SYNNEX (NYSE:SNX) Hits New 52-Week High – Still a Buy?

TD SYNNEX Co. (NYSE:SNX) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $144.27 and last traded at $143.85, with a volume of 65281 shares changing hands. The stock had previously closed at $143.46.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNX. Barclays lifted their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised their price objective 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. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.38.

TD SYNNEX Trading Down 0.3 %

The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $128.04 and a two-hundred day moving average of $121.27. The stock has a market capitalization of $12.10 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.06 and a beta of 1.48.

TD SYNNEX Increases Dividend

The firm 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. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.23%. The ex-dividend date was Friday, January 24th. TD SYNNEX’s payout ratio is currently 22.11%.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann F. Vezina sold 839 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now directly owns 4,856 shares in the company, valued at $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,289 shares of company stock valued at $3,639,500 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

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

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.