Barclays Lowers TD SYNNEX (NYSE:SNX) Price Target to $125.00

TD SYNNEX (NYSE:SNX) had its target price decreased by Barclays from $148.00 to $125.00 in a research note issued to investors on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the business services provider’s stock.

Several other analysts also recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Barrington Research reissued an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday. Finally, UBS Group dropped 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

TD SYNNEX Stock Down 2.9 %

Shares of NYSE SNX opened at $104.45 on Friday. The company has a market cap of $8.81 billion, a P/E ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51. The firm has a 50-day simple moving average of $135.67 and a two-hundred day simple moving average of $125.75. TD SYNNEX has a 1 year low of $98.00 and a 1 year 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.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $14.79 billion. During the same quarter in the previous year, the firm earned $2.99 EPS. TD SYNNEX’s revenue was up 4.0% compared to the same quarter last year. Research analysts anticipate that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be paid a $0.44 dividend. 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 (DPR) is 22.11%.

Insider Transactions at TD SYNNEX

In related news, Director Ann F. Vezina sold 839 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the company’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 completion of the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % 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 worth $6,353,261. Insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNX. Advisors Asset Management Inc. grew its position in shares of TD SYNNEX by 117.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,259 shares of the business services provider’s stock valued at $151,000 after acquiring an additional 679 shares during the period. Cerity Partners LLC boosted its position in TD SYNNEX by 51.3% during the third quarter. Cerity Partners LLC now owns 16,792 shares of the business services provider’s stock worth $2,016,000 after purchasing an additional 5,691 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in TD SYNNEX by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 68,289 shares of the business services provider’s stock valued at $8,200,000 after purchasing an additional 746 shares during the period. Quantbot Technologies LP purchased a new stake in shares of TD SYNNEX in the third quarter valued at approximately $2,237,000. Finally, Bridgewater Associates LP raised its stake in shares of TD SYNNEX by 493.7% during the 3rd quarter. Bridgewater Associates LP now owns 77,506 shares of the business services provider’s stock worth $9,307,000 after buying an additional 64,452 shares during the period. Institutional investors and hedge funds 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.