TD SYNNEX (NYSE:SNX) Given New $125.00 Price Target at JPMorgan Chase & Co.

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

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada increased their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and upped their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. Barclays lifted their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Friday. Three 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 an average target price of $140.00.

TD SYNNEX Price Performance

Shares of SNX stock opened at $104.45 on Friday. The firm has a fifty day moving average of $135.67 and a two-hundred day moving average of $125.75. The firm has a market cap of $8.81 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.06 and a beta of 1.51. TD SYNNEX has a 1-year low of $98.00 and a 1-year high of $145.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX) last issued its 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 firm had revenue of $14.53 billion during 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%. TD SYNNEX’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.99 EPS. As a group, research analysts anticipate that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s payout ratio is 22.11%.

Insider Transactions 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 shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the sale, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,353,261 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in TD SYNNEX by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock valued at $901,323,000 after acquiring an additional 29,659 shares in the last quarter. FMR LLC lifted its position in TD SYNNEX by 3.2% in the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock worth $898,738,000 after buying an additional 237,587 shares in the last quarter. Brave Warrior Advisors LLC boosted its stake in shares of TD SYNNEX by 12.2% during the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after buying an additional 451,557 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of TD SYNNEX by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock valued at $391,188,000 after acquiring an additional 323,282 shares in the last quarter. Finally, Ninety One UK Ltd raised its holdings in shares of TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after acquiring an additional 1,016,251 shares in the last quarter. 84.00% of the stock is 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.