TD SYNNEX (NYSE:SNX) Price Target Cut to $132.00 by Analysts at Cfra

TD SYNNEX (NYSE:SNX - Free Report) had its price objective cut by Cfra from $147.00 to $132.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the business services provider's stock.

Several other equities analysts have also recently weighed in on SNX. JPMorgan Chase & Co. lowered their price target on TD SYNNEX from $150.00 to $125.00 and set a "neutral" rating on the stock in a report on Friday. Barrington Research restated an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a research note on Friday. Royal Bank of Canada increased their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. The Goldman Sachs Group lowered their price objective on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research report on Friday. Finally, UBS Group cut their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Friday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, TD SYNNEX currently has an average rating of "Moderate Buy" and a consensus price target of $140.00.

TD SYNNEX Stock Down 0.2 %

Shares of SNX stock traded down $0.19 during trading hours on Friday, hitting $103.77. 1,423,131 shares of the company's stock traded hands, compared to its average volume of 760,643. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The stock's fifty day simple moving average is $134.27 and its two-hundred day simple moving average is $125.64. TD SYNNEX has a 12-month low of $98.00 and a 12-month high of $145.10. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.06 and a beta of 1.51.

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TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The company's revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $2.99 earnings per share. On average, analysts expect that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be issued 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 (DPR) is 22.11%.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now owns 111,080 shares of the company's stock, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction dated 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 transaction, the chief executive officer now owns 165,604 shares of the company's stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,172 shares of company stock valued at $6,353,261. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC lifted its position in TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock worth $27,000 after buying an additional 176 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after acquiring an additional 152 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock worth $50,000 after purchasing an additional 140 shares during the period. Point72 DIFC Ltd bought a new position in TD SYNNEX during the 3rd quarter valued at about $55,000. Finally, Blue Trust Inc. raised its position 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 during the period. 84.00% of the stock is owned by institutional investors.

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.