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

StockNews.com downgraded shares of TD SYNNEX (NYSE:SNX) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the company from $122.00 to $147.00 in a report on Friday, January 10th. Finally, Barclays boosted their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.50.

TD SYNNEX Trading Down 1.3 %

Shares of TD SYNNEX stock opened at $137.89 on Tuesday. TD SYNNEX has a 1 year low of $101.21 and a 1 year high of $145.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The business has a 50 day moving average price of $134.15 and a 200 day moving average price of $124.11. The company has a market capitalization of $11.63 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.28%. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insider Activity

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares in the company, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the transaction, the chief financial officer now owns 48,362 shares of the company’s stock, valued at approximately $5,858,089.06. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,289 shares of company stock valued at $3,639,500. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pathstone Holdings LLC raised its position in shares of TD SYNNEX by 45.2% during the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after buying an additional 5,698 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of TD SYNNEX by 37.0% during 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 acquiring an additional 813,634 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of TD SYNNEX in the 4th quarter valued at $2,260,000. iSAM Funds UK Ltd purchased a new position in shares of TD SYNNEX in the third quarter worth approximately $500,000. Finally, Atom Investors LP grew its holdings in shares of TD SYNNEX by 50.3% during the third quarter. Atom Investors LP now owns 43,777 shares of the business services provider’s stock valued at $5,257,000 after buying an additional 14,650 shares in the last quarter. 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.