TD SYNNEX (NYSE:SNX) Sets New 52-Week Low – Here’s Why

TD SYNNEX Co. (NYSE:SNX) shares hit a new 52-week low on Thursday . The stock 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.

Analyst Ratings Changes

SNX has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Barclays reduced their price target on shares of 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. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. The Goldman Sachs Group dropped their price objective on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, Cfra decreased their target price on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

TD SYNNEX Stock Down 6.6 %

The stock has a 50-day simple moving average of $133.58 and a two-hundred day simple moving average of $125.50. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The firm has a market cap of $8.41 billion, a PE ratio of 12.53, a P/E/G ratio of 1.06 and a beta of 1.51.

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). The firm had revenue of $14.53 billion for 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%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.99 earnings per share. Analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.76%. TD SYNNEX’s dividend payout ratio (DPR) is 21.97%.

Insider Activity at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at $23,681,372. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the business’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 owns 111,080 shares of the company’s stock, 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. In the last 90 days, insiders have sold 49,172 shares of company stock valued at $6,353,261. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

A number of large investors have recently added to or reduced their stakes in SNX. Versant Capital Management Inc raised its stake in shares of TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 183 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in TD SYNNEX by 11.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,008 shares of the business services provider’s stock valued at $822,000 after purchasing an additional 708 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in TD SYNNEX during the 4th quarter valued at approximately $6,167,000. Forum Financial Management LP lifted its holdings in TD SYNNEX by 10.0% in the 4th quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock worth $295,000 after buying an additional 229 shares during the period. Finally, Vise Technologies Inc. bought a new stake in shares of TD SYNNEX in the 4th quarter worth approximately $276,000. Institutional investors own 84.00% of the company’s stock.

About TD SYNNEX

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.