TD SYNNEX (NYSE:SNX) Price Target Cut to $125.00 by Analysts at Barclays

TD SYNNEX (NYSE:SNX) had its price objective lowered by Barclays from $148.00 to $125.00 in a report published on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the business services provider’s stock.

A number of other equities research analysts have also weighed in on SNX. Barrington Research reaffirmed an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a research note on Friday. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. dropped their price target on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, UBS Group decreased their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a report on Friday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.00.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $104.45 on Friday. The firm has a fifty day simple moving average of $135.67 and a two-hundred day simple moving average of $125.53. TD SYNNEX has a twelve month low of $98.00 and a twelve month high of $145.10. The company has a market capitalization of $8.81 billion, a PE ratio of 13.12, a P/E/G ratio of 1.06 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last issued its earnings results 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 firm had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.99 earnings per share. Research analysts expect that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insider Activity at TD SYNNEX

In other news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX 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 approximately $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 can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,172 shares of company stock worth $6,353,261. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNX. Vanguard Group Inc. increased its position in shares of TD SYNNEX by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock worth $901,323,000 after acquiring an additional 29,659 shares during the period. FMR LLC increased its holdings in TD SYNNEX by 3.2% during the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock worth $898,738,000 after purchasing an additional 237,587 shares during the period. Brave Warrior Advisors LLC increased its holdings in TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock worth $486,380,000 after purchasing an additional 451,557 shares during the period. JPMorgan Chase & Co. raised its position in TD SYNNEX by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock valued at $391,188,000 after purchasing an additional 323,282 shares in the last quarter. Finally, Ninety One UK Ltd lifted its holdings in shares of TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after buying an additional 1,016,251 shares during the period. Institutional investors own 84.00% of the company’s stock.

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.