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

TD SYNNEX (NYSE:SNX) had its target price lowered by Cfra from $147.00 to $132.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Several other equities analysts have also issued reports on SNX. The Goldman Sachs Group lowered their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a report on Friday. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Barrington Research reaffirmed an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a research report on Friday. UBS Group cut their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their target price on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $140.00.

TD SYNNEX Trading Down 2.9 %

NYSE SNX opened at $104.45 on Friday. The firm 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 stock’s 50 day moving average is $135.67 and its 200 day moving average is $125.53. TD SYNNEX has a twelve month low of $98.00 and a twelve month high of $145.10. 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 announced its earnings results 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 for the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.99 EPS. Research analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

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

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock worth $6,353,261 over the last quarter. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

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

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.