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

StockNews.com lowered shares of TD SYNNEX (NYSE:SNX) from a buy rating to a hold rating in a research note published on Wednesday morning.

Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Barclays lifted their price target on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Finally, Barrington Research upped their price target on shares of TD SYNNEX from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.00.

TD SYNNEX Stock Down 2.9 %

SNX stock opened at $104.45 on Wednesday. TD SYNNEX has a 1-year low of $98.00 and a 1-year high of $145.10. The business’s 50 day simple moving average is $135.67 and its 200 day simple moving average is $125.53. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $8.81 billion, a PE ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.99 earnings per share. As a group, research analysts anticipate that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.68%. TD SYNNEX’s dividend payout ratio is 22.11%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the company’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 completion of the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at $23,681,372. This 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 at the SEC website. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,353,261 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds have recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC lifted its stake in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 140 shares in the last quarter. Point72 DIFC Ltd bought a new stake in TD SYNNEX during the 3rd quarter worth $55,000. Finally, Blue Trust Inc. increased its holdings in TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after purchasing an additional 129 shares in the last quarter. 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.