TD SYNNEX (NYSE:SNX) Hits New 1-Year High – Here’s Why

TD SYNNEX Co. (NYSE:SNX)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $144.48 and last traded at $144.25, with a volume of 458896 shares. The stock had previously closed at $141.60.

Wall Street Analyst Weigh In

SNX has been the topic of several recent analyst reports. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday. Barclays lifted their price target 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. JPMorgan Chase & Co. upped their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.38.

TD SYNNEX Price Performance

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 company’s 50 day moving average price is $130.53 and its 200 day moving average price is $122.36. The firm has a market capitalization of $12.21 billion, a P/E ratio of 18.12, a PEG ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a $0.44 dividend. 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 dividend on an annualized basis and a yield of 1.22%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Insider Buying and Selling at TD SYNNEX

In other news, 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 transaction of $114,171.12. Following the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction 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. The trade was a 3.96 % 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 currently owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pathstone Holdings LLC increased its stake in TD SYNNEX by 45.2% in the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock valued at $2,197,000 after buying an additional 5,698 shares during the last quarter. JPMorgan Chase & Co. increased its stake in 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 last quarter. Stratos Investment Management LLC increased its stake in TD SYNNEX by 5.6% in the 3rd quarter. Stratos Investment Management LLC now owns 28,115 shares of the business services provider’s stock valued at $3,376,000 after buying an additional 1,486 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in TD SYNNEX by 170.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,714 shares of the business services provider’s stock valued at $9,812,000 after buying an additional 51,465 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in TD SYNNEX in the 4th quarter valued at $2,260,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.