TD SYNNEX (NYSE:SNX) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of TD SYNNEX (NYSE:SNX) in a research report report published on Wednesday, Marketbeat reports. The brokerage issued an overweight rating and a $145.00 price target on the business services provider’s stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada cut their price objective on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Wall Street Zen cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. cut their price objective on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. UBS Group cut their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Finally, Barclays cut their price objective on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.00.

TD SYNNEX Stock Down 2.3%

NYSE SNX opened at $123.20 on Wednesday. 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 stock has a market capitalization of $10.34 billion, a PE ratio of 15.48, a PEG ratio of 1.06 and a beta of 1.29. TD SYNNEX has a 1 year low of $92.23 and a 1 year high of $145.10. The business’s 50-day moving average is $116.05 and its 200 day moving average is $123.82.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The business had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.99 earnings per share. Sell-side analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.43%. TD SYNNEX’s payout ratio is 21.97%.

Insider Activity

In related news, insider Miriam Anne Murphy sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the transaction, the insider now directly owns 14,883 shares in the company, valued at $1,637,130. The trade was a 16.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the transaction, the chief financial officer now owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. The trade was a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after acquiring an additional 152 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in TD SYNNEX by 329.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider’s stock worth $25,000 after acquiring an additional 188 shares during the last quarter. Versant Capital Management Inc raised its holdings in TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock worth $36,000 after acquiring an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in TD SYNNEX in the 1st quarter worth approximately $44,000. Finally, Blue Trust Inc. raised its holdings in TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after acquiring an additional 129 shares during the last quarter. 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.