TD SYNNEX (NYSE:SNX) Hits New 12-Month Low – Should You Sell?

TD SYNNEX Co. (NYSE:SNX) hit a new 52-week low on Thursday . The company traded as low as $97.46 and last traded at $101.15, with a volume of 1135512 shares trading hands. The stock had previously closed at $106.75.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barrington Research reiterated an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Friday, March 28th. Royal Bank of Canada boosted their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Cfra reduced their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. The Goldman Sachs Group dropped their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

TD SYNNEX Price Performance

The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The stock’s fifty day moving average price is $131.78 and its two-hundred day moving average price is $125.20. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

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

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.84%. TD SYNNEX’s payout ratio is currently 21.97%.

Insider Activity

In related news, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares in the company, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the sale, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,172 shares of company stock worth $4,000,861. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds have recently made changes to their positions in SNX. Bartlett & CO. Wealth Management LLC raised its stake in TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after purchasing an additional 152 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock worth $36,000 after purchasing an additional 183 shares during the period. UMB Bank n.a. grew its position in TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after buying an additional 140 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in TD SYNNEX in the 3rd quarter valued at $55,000. Institutional investors and hedge funds 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.