TD SYNNEX (NYSE:SNX) Reaches New 12-Month High at $120.98

TD SYNNEX Co. (NYSE:SNX) hit a new 52-week high during trading on Tuesday . The stock traded as high as $120.98 and last traded at $120.57, with a volume of 26759 shares traded. The stock had previously closed at $119.64.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $115.00 to $145.00 in a research report on Tuesday, April 16th. Cfra boosted their price objective on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Barclays boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $118.00 price objective (up from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

TD SYNNEX Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 1.10 and a beta of 1.59. The firm’s fifty day simple moving average is $111.74 and its 200 day simple moving average is $104.66.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.12. The company had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $14.37 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. On average, sell-side analysts forecast that TD SYNNEX Co. will post 11.38 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.32%. TD SYNNEX’s dividend payout ratio is presently 23.22%.

Insider Activity at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,000 shares of company stock valued at $4,575,600. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

Institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Rise Advisors LLC acquired a new position in shares of TD SYNNEX during the 1st quarter worth approximately $32,000. Pineridge Advisors LLC bought a new position in shares of TD SYNNEX during the fourth quarter worth approximately $33,000. Daiwa Securities Group Inc. acquired a new stake in shares of TD SYNNEX in the first quarter valued at approximately $68,000. Finally, Gladius Capital Management LP increased its stake in TD SYNNEX by 50.8% during the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock worth $74,000 after acquiring an additional 250 shares during the period. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Company Profile

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.