TD SYNNEX (NYSE:SNX) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of TD SYNNEX (NYSE:SNX) from a buy rating to a hold rating in a research report sent to investors on Friday.

A number of other equities analysts have also 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. lifted their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.38.

TD SYNNEX Stock Performance

SNX opened at $142.78 on Friday. The business has a fifty day simple moving average of $128.51 and a 200-day simple moving average of $121.44. The firm has a market cap of $12.09 billion, a PE ratio of 17.94, a P/E/G ratio of 1.06 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX has a fifty-two week low of $98.70 and a fifty-two week high of $144.27.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a dividend of $0.44 per share. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Friday, January 24th. TD SYNNEX’s payout ratio is currently 22.11%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,289 shares of company stock valued at $3,639,500. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SNX. FMR LLC boosted its holdings in TD SYNNEX by 18.4% in 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. JPMorgan Chase & Co. lifted its position in shares of TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares during the last quarter. Ninety One UK Ltd boosted its stake in shares of TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after acquiring an additional 1,016,251 shares in the last quarter. State Street Corp raised its stake in shares of TD SYNNEX by 0.7% in the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock valued at $262,943,000 after acquiring an additional 15,995 shares in the last quarter. Finally, River Road Asset Management LLC lifted its holdings in TD SYNNEX by 0.5% in the 4th quarter. River Road Asset Management LLC now owns 869,367 shares of the business services provider’s stock worth $101,959,000 after purchasing an additional 4,220 shares during the last quarter. Institutional investors and hedge funds 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.