TD SYNNEX (NYSE:SNX) Sets New 52-Week Low - Here's What Happened

TD SYNNEX Co. (NYSE:SNX - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $97.46 and last traded at $101.15, with a volume of 1135512 shares. The stock had previously closed at $106.75.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNX. Cfra reduced their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. UBS Group reduced their target price on shares of 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 lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Barclays dropped their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Finally, Royal Bank of Canada increased their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TD SYNNEX currently has an average rating of "Moderate Buy" and a consensus price target of $140.00.

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TD SYNNEX Stock Performance

The stock's fifty day moving average price is $129.15 and its two-hundred day moving average price is $124.84. The company has a market cap of $8.21 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.06 and a beta of 1.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share 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 during the quarter, compared to analyst estimates of $14.79 billion. During the same period in the prior year, the business posted $2.99 EPS. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts predict that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm 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 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX's payout ratio is 21.97%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was 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 $6,383,891.44. This represents a 2.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares of the company's stock, valued at $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,172 shares of company stock valued at $4,000,861. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SNX. Bartlett & CO. Wealth Management LLC grew its holdings 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 worth $27,000 after acquiring an additional 176 shares during the last quarter. Bessemer Group Inc. lifted 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. Versant Capital Management Inc grew its stake in shares of TD SYNNEX by 115.1% in the first 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 last quarter. UMB Bank n.a. increased its holdings in TD SYNNEX by 48.4% in the fourth 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 period. Finally, Point72 DIFC Ltd bought a new position in TD SYNNEX during the 3rd quarter worth $55,000. Institutional investors and hedge funds own 84.00% of the company's stock.

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.