TD SYNNEX (NYSE:SNX) PT Set at $155.00 by Morgan Stanley

Morgan Stanley set a $155.00 price target on TD SYNNEX (NYSE:SNX) in a research report report published on Wednesday, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the business services provider’s stock.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays reduced their price objective on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. The Goldman Sachs Group reduced their price objective on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Cfra reduced their price objective on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, UBS Group reduced their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.44.

TD SYNNEX Trading Down 1.7%

Shares of NYSE:SNX opened at $134.72 on Wednesday. The business’s 50-day moving average is $121.26 and its 200 day moving average is $124.38. TD SYNNEX has a 1 year low of $92.23 and a 1 year high of $145.10. The firm has a market capitalization of $11.31 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.15 and a beta of 1.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.74.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.28. The company had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.73 EPS. On average, research analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, July 11th. TD SYNNEX’s dividend payout ratio (DPR) is 20.56%.

Insider Buying and Selling

In related news, insider Miriam Anne Murphy sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the insider now directly owns 14,883 shares of the company’s stock, valued at $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marshall Witt sold 1,509 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the sale, the chief financial officer now directly owns 49,563 shares in the company, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC grew its holdings in TD SYNNEX by 20.1% in the fourth quarter. Barclays PLC now owns 97,617 shares of the business services provider’s stock valued at $11,448,000 after purchasing an additional 16,310 shares during the period. Proficio Capital Partners LLC acquired a new stake in TD SYNNEX in the fourth quarter valued at approximately $5,158,000. Sei Investments Co. grew its holdings in TD SYNNEX by 25.5% in the fourth quarter. Sei Investments Co. now owns 70,745 shares of the business services provider’s stock valued at $8,297,000 after purchasing an additional 14,379 shares during the period. IFP Advisors Inc grew its holdings in TD SYNNEX by 976.6% in the fourth quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 918 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in TD SYNNEX by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock valued at $59,512,000 after purchasing an additional 9,915 shares during the period. 84.00% of the stock is 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.