TD SYNNEX (NYSE:SNX) Price Target Lowered to $145.00 at Royal Bank of Canada

TD SYNNEX (NYSE:SNX - Free Report) had its price objective decreased by Royal Bank of Canada from $165.00 to $145.00 in a research note issued to investors on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the business services provider's stock.

SNX has been the topic of several other research reports. Barrington Research reissued an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a research note on Friday, March 28th. The Goldman Sachs Group dropped their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, March 28th. Cfra reduced their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Barclays cut their price objective on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. decreased their target price on TD SYNNEX from $150.00 to $125.00 and set a "neutral" rating for the company in a report on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, TD SYNNEX currently has an average rating of "Moderate Buy" and a consensus price target of $137.22.

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TD SYNNEX Price Performance

NYSE SNX traded up $0.21 during mid-day trading on Friday, hitting $103.27. The stock had a trading volume of 1,104,167 shares, compared to its average volume of 753,339. TD SYNNEX has a twelve month low of $92.23 and a twelve month 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. The firm's 50 day moving average is $125.45 and its 200 day moving average is $124.34. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 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 company 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 business posted $2.99 EPS. The business's quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.70%. TD SYNNEX's dividend payout ratio is presently 21.97%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares in the company, valued at approximately $23,681,372. The trade was a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares in the company, 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 have sold 29,172 shares of company stock valued at $4,000,861 in the last ninety days. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds have recently made changes to their positions in the business. Kovitz Investment Group Partners LLC grew its stake in shares of TD SYNNEX by 26.3% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,620 shares of the business services provider's stock valued at $304,000 after purchasing an additional 546 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of TD SYNNEX during the third quarter worth $219,000. M&T Bank Corp grew its position in TD SYNNEX by 13.5% in the 3rd quarter. M&T Bank Corp now owns 2,188 shares of the business services provider's stock valued at $263,000 after buying an additional 261 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in TD SYNNEX during the 3rd quarter worth $232,000. Finally, Tidal Investments LLC lifted its stake in shares of TD SYNNEX by 9.3% in the 3rd quarter. Tidal Investments LLC now owns 17,121 shares of the business services provider's stock worth $2,056,000 after acquiring an additional 1,450 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.