Shares of TD SYNNEX Corporation (NYSE:SNX – Get Free Report) have received an average recommendation of “Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $294.6667.
A number of research analysts recently commented on SNX shares. Weiss Ratings lowered TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. raised shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target on the stock in a report on Wednesday, May 27th. Morgan Stanley increased their price objective on shares of TD SYNNEX from $341.00 to $374.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a report on Friday, June 26th. Finally, Barclays lifted their target price on shares of TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a research report on Thursday, July 2nd.
Get Our Latest Stock Analysis on TD SYNNEX
TD SYNNEX Trading Down 0.3%
TD SYNNEX (NYSE:SNX – Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The firm had revenue of $19.57 billion during the quarter, compared to analysts’ expectations of $16.80 billion. During the same quarter in the prior year, the firm posted $2.99 EPS. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, research analysts predict that TD SYNNEX will post 18.02 earnings per share for the current year.
TD SYNNEX Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. TD SYNNEX’s dividend payout ratio (DPR) is currently 13.74%.
Insiders Place Their Bets
In other news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $242.97, for a total value of $1,214,850.00. Following the sale, the director directly owned 18,537 shares in the company, valued at approximately $4,503,934.89. This represents a 21.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,000 shares of company stock worth $4,933,700 over the last 90 days. 0.70% of the stock is currently owned by insiders.
Institutional Trading of TD SYNNEX
Institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in TD SYNNEX in the fourth quarter worth $148,559,000. Alyeska Investment Group L.P. bought a new position in shares of TD SYNNEX in the third quarter valued at about $135,631,000. AQR Capital Management LLC raised its holdings in shares of TD SYNNEX by 141.8% in the fourth quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock valued at $140,431,000 after buying an additional 548,180 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in TD SYNNEX during the 4th quarter worth about $60,104,000. Finally, Marshall Wace LLP lifted its position in TD SYNNEX by 6,626.0% during the 3rd quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider’s stock worth $65,951,000 after buying an additional 396,766 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.
TD SYNNEX Company Profile
TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.
The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.
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