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

TD SYNNEX (NYSE:SNX) had its target price lowered by Barclays from $148.00 to $125.00 in a report released on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the business services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Barrington Research reiterated an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a report on Friday. UBS Group dropped their target price on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock 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 company an “outperform” rating in a research note on Friday, February 21st. Finally, Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and an average price target of $140.00.

TD SYNNEX Stock Down 2.9 %

TD SYNNEX stock opened at $104.45 on Friday. The firm has a market cap of $8.81 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.06 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX has a twelve month low of $98.00 and a twelve month high of $145.10. The business has a fifty day moving average of $135.67 and a two-hundred day moving average of $125.53.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data 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). The company had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.99 EPS. On average, analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.68%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Insiders Place Their Bets

In related news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the completion of the transaction, the director now directly owns 65,480 shares in the company, valued at approximately $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the business’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 directly owns 49,843 shares of the company’s stock, valued at $6,383,891.44. The trade was a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 insiders.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors have recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC boosted its holdings in TD SYNNEX by 345.1% during 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 in the last quarter. Bessemer Group Inc. boosted its stake in shares of TD SYNNEX by 174.7% during 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 in the last quarter. UMB Bank n.a. grew its position 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 valued at $50,000 after acquiring an additional 140 shares during the period. Point72 DIFC Ltd purchased a new position in shares of TD SYNNEX in the 3rd quarter valued at about $55,000. Finally, Blue Trust Inc. raised its holdings 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 hedge funds and other institutional investors.

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.