TD SYNNEX (NYSE:SNX) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of TD SYNNEX (NYSE:SNX) from a buy rating to a hold rating in a report published on Thursday morning.

SNX has been the subject of a number of other research reports. Barrington Research reissued an outperform rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Wednesday, June 26th. UBS Group upped their price target on TD SYNNEX from $145.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. cut their price objective on TD SYNNEX from $126.00 to $123.00 and set a neutral rating for the company in a research note on Wednesday, June 26th. Bank of America decreased their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a buy rating on the stock in a research note on Thursday, June 27th. Finally, Royal Bank of Canada raised shares of TD SYNNEX from a sector perform rating to an outperform rating and increased their price objective for the stock from $135.00 to $140.00 in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of Moderate Buy and an average price target of $127.33.

TD SYNNEX Stock Up 0.7 %

TD SYNNEX stock opened at $111.99 on Thursday. TD SYNNEX has a one year low of $89.73 and a one year high of $133.85. The stock has a fifty day moving average of $119.56 and a 200 day moving average of $114.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26. The stock has a market cap of $9.57 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.09 and a beta of 1.52.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.05). The business had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $14.12 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. As a group, sell-side analysts predict that TD SYNNEX will post 11.22 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the sale, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,071 shares of company stock valued at $3,985,182. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. lifted its holdings in TD SYNNEX by 121.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of TD SYNNEX in the first quarter valued at approximately $32,000. Pineridge Advisors LLC bought a new position in TD SYNNEX in the fourth quarter worth approximately $33,000. Blue Trust Inc. increased its holdings in TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in TD SYNNEX during the 2nd quarter valued at $52,000. 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.