JPMorgan Chase & Co. Cuts TD SYNNEX (NYSE:SNX) Price Target to $125.00

TD SYNNEX (NYSE:SNX) had its price target cut by JPMorgan Chase & Co. from $150.00 to $125.00 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

SNX has been the subject of a number of other reports. Barrington Research reaffirmed an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a report on Friday. Royal Bank of Canada lifted 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. Barclays increased their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Finally, Cfra raised 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 report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

TD SYNNEX Trading Down 2.9 %

Shares of TD SYNNEX stock opened at $104.45 on Friday. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company’s 50-day simple moving average is $135.67 and its 200-day simple moving average is $125.75. TD SYNNEX has a 52-week low of $98.00 and a 52-week high of $145.10. 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 announced 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). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business had revenue of $14.53 billion for the quarter, compared to analyst estimates of $14.79 billion. During the same period in the prior year, the company earned $2.99 EPS. The company’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

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 issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s payout ratio is currently 22.11%.

Insiders Place Their Bets

In other news, Director Ann F. Vezina sold 839 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the sale, the director now owns 4,856 shares of the company’s stock, valued at $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,172 shares of company stock worth $6,353,261 over the last three months. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds have recently modified their holdings of the stock. Arizona State Retirement System boosted its holdings in TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock worth $2,607,000 after acquiring an additional 78 shares during the period. Quadrant Capital Group LLC lifted its position in shares of TD SYNNEX by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock worth $125,000 after purchasing an additional 90 shares in the last quarter. Ellevest Inc. boosted its stake in shares of TD SYNNEX by 3.9% in the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 90 shares during the period. Utah Retirement Systems grew its holdings in TD SYNNEX by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock valued at $481,000 after purchasing an additional 100 shares in the last quarter. Finally, Amundi increased its stake in TD SYNNEX by 22.3% during the 4th quarter. Amundi now owns 560 shares of the business services provider’s stock worth $66,000 after buying an additional 102 shares during the period. 84.00% of the stock is currently 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.