TD SYNNEX (NYSE:SNX) Reaches New 12-Month Low – What’s Next?

TD SYNNEX Co. (NYSE:SNX)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $98.00 and last traded at $100.88, with a volume of 145646 shares trading hands. The stock had previously closed at $125.46.

Wall Street Analyst Weigh In

SNX has been the subject of several analyst reports. Barrington Research increased their target price on shares of TD SYNNEX from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Thursday, March 20th. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Barclays increased their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada boosted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.75.

TD SYNNEX Trading Down 18.3 %

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 stock has a 50-day moving average price of $136.91 and a two-hundred day moving average price of $125.70. The stock has a market cap of $8.65 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.72%. TD SYNNEX’s payout ratio is 22.11%.

Insider Activity

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,172 shares of company stock worth $6,353,261. 1.00% 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 stock. Arizona State Retirement System raised its holdings in TD SYNNEX by 0.4% during the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock valued at $2,607,000 after buying an additional 78 shares during the period. Quadrant Capital Group LLC increased its position in TD SYNNEX by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock valued at $125,000 after acquiring an additional 90 shares during the last quarter. Ellevest Inc. raised its stake in shares of TD SYNNEX by 3.9% in the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock valued at $280,000 after acquiring an additional 90 shares during the period. Utah Retirement Systems lifted its holdings in shares of TD SYNNEX by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock worth $481,000 after acquiring an additional 100 shares during the last quarter. Finally, Amundi boosted its stake in shares of TD SYNNEX by 22.3% during the 4th quarter. Amundi now owns 560 shares of the business services provider’s stock worth $66,000 after purchasing an additional 102 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

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.