TD SYNNEX (NYSE:SNX) Sets New 52-Week Low – Should You Sell?

TD SYNNEX Co. (NYSE:SNX) shares reached a new 52-week low during trading on Thursday . The company traded as low as $98.00 and last traded at $100.88, with a volume of 145646 shares trading hands. The stock had previously closed at $125.46.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their price target for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Barrington Research boosted their target price on shares of TD SYNNEX from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Barclays upped their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.75.

TD SYNNEX Trading Down 18.3 %

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The company has a market capitalization of $8.65 billion, a P/E ratio of 12.92, a PEG ratio of 1.06 and a beta of 1.51. The company’s fifty day simple moving average is $136.91 and its 200-day simple moving average is $125.70.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.72%. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insiders Place Their Bets

In related news, 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 transaction of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC increased its position 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 buying an additional 176 shares in the last quarter. Bessemer Group Inc. increased its holdings 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 valued at $28,000 after acquiring an additional 152 shares in the last quarter. UMB Bank n.a. raised its position in shares of 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 purchasing an additional 140 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in TD SYNNEX in the 3rd quarter worth approximately $55,000. Finally, Blue Trust Inc. boosted its stake in TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $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.