TD SYNNEX (NYSE:SNX) Given New $120.00 Price Target at JPMorgan Chase & Co.

TD SYNNEX (NYSE:SNX) had its price target trimmed by JPMorgan Chase & Co. from $125.00 to $120.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

A number of other research analysts have also weighed in on SNX. UBS Group reduced their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday, March 28th. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. The Goldman Sachs Group dropped their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Royal Bank of Canada reduced their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a report on Friday, March 28th. 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 data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average target price of $137.22.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $101.83 on Friday. The business has a fifty day simple moving average of $126.24 and a two-hundred day simple moving average of $124.46. The firm has a market capitalization of $8.55 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.06 and a beta of 1.36. 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 has a 12 month low of $92.23 and a 12 month high of $145.10.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results 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 period last year, the business earned $2.99 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, equities 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 is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.73%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Insider Activity

In related news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The stock was 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 $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,172 shares of company stock valued at $4,000,861 over the last three months. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC increased its holdings in TD SYNNEX by 345.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Versant Capital Management Inc raised its holdings in TD SYNNEX by 115.1% in the 1st 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. raised its holdings 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 worth $50,000 after purchasing an additional 140 shares during the period. Finally, Blue Trust Inc. lifted its position in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 129 shares in the last quarter. Hedge funds and other 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.