TD SYNNEX (NYSE:SNX - Free Report) had its price objective lowered by Barclays from $148.00 to $125.00 in a report issued on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the business services provider's stock.
A number of other equities analysts have also recently issued reports on the stock. Cfra upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating and lifted their target price for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. UBS Group cut 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. JPMorgan Chase & Co. dropped their price target on TD SYNNEX from $150.00 to $125.00 and set a "neutral" rating for the company in a research report on Friday. Barrington Research restated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research report on Friday. Finally, Royal Bank of Canada lifted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Three investment 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $140.00.
Read Our Latest Report on TD SYNNEX
TD SYNNEX Price Performance
Shares of SNX stock traded down $0.25 during midday trading on Friday, reaching $103.72. 490,951 shares of the company traded hands, compared to its average volume of 759,809. The firm's 50 day simple moving average is $135.01 and its two-hundred day simple moving average is $125.70. The firm has a market cap of $8.75 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. 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 has a 1-year low of $98.00 and a 1-year high of $145.10.
TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.99 earnings per share. On average, equities research analysts expect that TD SYNNEX will post 11.88 EPS for the current fiscal year.
TD SYNNEX Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.70%. TD SYNNEX's dividend payout ratio (DPR) is 22.11%.
Insider Transactions at TD SYNNEX
In other news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the sale, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann F. Vezina sold 839 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 4,856 shares in the company, valued at $660,804.48. This trade represents a 14.73 % 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 over the last 90 days. Corporate insiders own 1.00% of the company's stock.
Institutional Investors Weigh In On TD SYNNEX
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 buying an additional 29,659 shares in the last quarter. FMR LLC lifted its stake in shares of 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 acquiring an additional 237,587 shares in the last quarter. Brave Warrior Advisors LLC lifted 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 acquiring an additional 451,557 shares in the last quarter. JPMorgan Chase & Co. grew its stake in 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 purchasing an additional 323,282 shares in the last quarter. Finally, Ninety One UK Ltd increased its holdings in 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 worth $277,316,000 after purchasing an additional 1,016,251 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.
About TD SYNNEX
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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.
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