Cfra Cuts TD SYNNEX (NYSE:SNX) Price Target to $132.00

TD SYNNEX (NYSE:SNX) had its price objective reduced by Cfra from $147.00 to $132.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other equities analysts also recently issued reports on SNX. Barrington Research restated an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Friday. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays cut their price target on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday. Royal Bank of Canada increased 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. Finally, UBS Group cut their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

TD SYNNEX Stock Performance

NYSE:SNX opened at $104.45 on Friday. TD SYNNEX has a 12 month low of $98.00 and a 12 month high of $145.10. 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 firm has a market capitalization of $8.81 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The business’s fifty day moving average price is $135.67 and its 200 day moving average price is $125.75.

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 analysts’ consensus estimates of $2.87 by ($0.07). The business had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.99 EPS. On average, sell-side analysts anticipate that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.68%. TD SYNNEX’s dividend payout ratio is currently 22.11%.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred 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 completion of the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,172 shares of company stock valued at $6,353,261. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its stake in TD SYNNEX by 0.4% in 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 in the last quarter. Quadrant Capital Group LLC increased its position in TD SYNNEX by 9.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock worth $125,000 after purchasing an additional 90 shares in the last quarter. Ellevest Inc. raised its stake in TD SYNNEX by 3.9% in the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 90 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of TD SYNNEX by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock worth $481,000 after purchasing an additional 100 shares during the last quarter. Finally, Amundi grew its holdings in shares of TD SYNNEX by 22.3% during the fourth quarter. Amundi now owns 560 shares of the business services provider’s stock worth $66,000 after buying an additional 102 shares in the last quarter. 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.