TD SYNNEX (NYSE:SNX) Given New $137.00 Price Target at The Goldman Sachs Group

TD SYNNEX (NYSE:SNX) had its price objective reduced by The Goldman Sachs Group from $154.00 to $137.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada upped their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their price target for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Barrington Research restated an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Friday. Finally, Barclays reduced their target price 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. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

TD SYNNEX Trading Down 2.9 %

Shares of NYSE SNX opened at $104.45 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX has a one year low of $98.00 and a one year high of $145.10. The business has a 50-day moving average price of $135.67 and a two-hundred day moving average price of $125.53. The firm has a market capitalization of $8.81 billion, a PE ratio of 13.12, a PEG ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last posted its quarterly 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 for the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.99 earnings per share. As a group, analysts predict that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a dividend of $0.44 per share. The ex-dividend date 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%.

Insider Transactions at TD SYNNEX

In related news, Director Ann F. Vezina sold 839 shares of the business’s 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 completion of the transaction, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is owned by insiders.

Institutional Trading of TD SYNNEX

A number of hedge funds have recently bought and sold shares of SNX. Bartlett & CO. Wealth Management LLC raised its position in shares of 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 valued at $27,000 after buying 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 valued at $28,000 after acquiring an additional 152 shares during the period. UMB Bank n.a. raised its holdings in TD SYNNEX by 48.4% in 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 in the last quarter. Point72 DIFC Ltd bought a new stake in shares of TD SYNNEX in the 3rd quarter worth approximately $55,000. Finally, Blue Trust Inc. grew its holdings in shares of TD SYNNEX by 37.7% during 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 in the last quarter. 84.00% of the stock is owned by 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.