JPMorgan Chase & Co. Issues Pessimistic Forecast for TD SYNNEX (NYSE:SNX) Stock Price

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

Several other equities research analysts have also commented on the stock. Cfra raised shares of 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. Barrington Research reiterated an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Friday. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada lifted their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, Barclays increased their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

TD SYNNEX Stock Down 2.9 %

SNX stock opened at $104.45 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The firm’s fifty day simple moving average is $135.67 and its 200-day simple moving average is $125.53. TD SYNNEX has a 12 month low of $98.00 and a 12 month high of $145.10. The company has a market capitalization of $8.81 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last announced its quarterly 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). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same period in the previous year, the firm posted $2.99 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast 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 paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s payout ratio is 22.11%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the 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 sale, the chief financial officer now owns 49,843 shares of the company’s stock, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Patrick Zammit sold 6,823 shares of the business’s 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 transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock valued at $6,353,261 in the last three months. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SNX. Advisors Asset Management Inc. lifted its position in shares of TD SYNNEX by 117.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,259 shares of the business services provider’s stock worth $151,000 after purchasing an additional 679 shares during the last quarter. Cerity Partners LLC lifted its holdings in TD SYNNEX by 51.3% during the 3rd quarter. Cerity Partners LLC now owns 16,792 shares of the business services provider’s stock worth $2,016,000 after buying an additional 5,691 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of TD SYNNEX by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 68,289 shares of the business services provider’s stock worth $8,200,000 after acquiring an additional 746 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of TD SYNNEX in the 3rd quarter valued at about $2,237,000. Finally, Bridgewater Associates LP raised its position in shares of TD SYNNEX by 493.7% during the 3rd quarter. Bridgewater Associates LP now owns 77,506 shares of the business services provider’s stock worth $9,307,000 after acquiring an additional 64,452 shares in the last quarter. 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.