Cfra Has Lowered Expectations for TD SYNNEX (NYSE:SNX) Stock Price

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

Several other research firms have also weighed in on SNX. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Barrington Research reiterated an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday. The Goldman Sachs Group reduced their price target on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Barclays reduced their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday. Three 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

TD SYNNEX Price Performance

SNX stock opened at $104.45 on Friday. The company has a market cap 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 company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $135.67 and a two-hundred day moving average price of $125.75. TD SYNNEX has a 12-month low of $98.00 and a 12-month high of $145.10.

TD SYNNEX (NYSE:SNX) last issued its 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 return on equity of 11.91% and a net margin of 1.18%. The firm 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 posted $2.99 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts predict that TD SYNNEX will post 11.88 EPS 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 dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, April 11th. TD SYNNEX’s payout ratio is 22.11%.

Insider Buying and Selling

In related news, 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 value of $193,400.80. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,172 shares of company stock valued at $6,353,261 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Bartlett & CO. Wealth Management LLC grew its stake 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 acquiring an additional 176 shares in the last quarter. Bessemer Group Inc. boosted 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 worth $28,000 after purchasing an additional 152 shares during the period. UMB Bank n.a. increased its stake 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 valued at $50,000 after buying an additional 140 shares during the period. Point72 DIFC Ltd purchased a new stake in TD SYNNEX in the 3rd quarter worth approximately $55,000. Finally, Blue Trust Inc. increased its stake in shares of TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after acquiring an additional 129 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

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.