TD SYNNEX (NYSE:SNX) Reaches New 52-Week Low – Here’s What Happened

TD SYNNEX Co. (NYSE:SNX) shares 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 changing hands. The stock had previously closed at $106.75.

Analysts Set New Price Targets

Several equities analysts have issued reports on SNX shares. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Barclays cut their price objective on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Cfra decreased their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. cut their price target on shares of TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday, March 28th. Finally, The Goldman Sachs Group reduced their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

TD SYNNEX Stock Down 3.8 %

The firm’s fifty day simple moving average is $131.78 and its 200-day simple moving average is $125.20. The company has a market cap of $8.08 billion, a PE ratio of 12.03, 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 (NYSE:SNX) last posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.99 EPS. As a group, equities research analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.84%. 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 TD SYNNEX 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 sale, the chief financial officer now owns 49,843 shares in the company, valued at $6,383,891.44. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann F. Vezina sold 839 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the transaction, the director now owns 4,856 shares in the company, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,172 shares of company stock worth $4,000,861 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TD SYNNEX

A number of large investors have recently bought and sold shares of SNX. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Bessemer Group Inc. increased its stake in 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 acquiring an additional 152 shares during the last quarter. Versant Capital Management Inc increased its position in TD SYNNEX by 115.1% during the 1st 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 in the last quarter. UMB Bank n.a. lifted its position in TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after buying an additional 140 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in TD SYNNEX in the third quarter valued at about $55,000. Hedge funds and other institutional investors 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.