TD SYNNEX (NYSE:SNX) Hits New 12-Month Low – Should You Sell?

TD SYNNEX Co. (NYSE:SNX) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $97.46 and last traded at $101.15, with a volume of 1135512 shares trading hands. The stock had previously closed at $106.75.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SNX shares. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. UBS Group dropped their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Cfra decreased their price objective on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. The Goldman Sachs Group dropped their target price on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and a consensus price target of $140.00.

TD SYNNEX Trading Down 6.6 %

The firm has a fifty day moving average price of $133.58 and a 200-day moving average price of $125.50. The company has a market capitalization of $8.41 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. 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 announced its quarterly earnings data 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). The business had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.99 EPS. On average, equities research analysts anticipate that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

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

Insider Activity

In other news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction on 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 owns 165,604 shares of the company’s stock, valued at $23,681,372. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,172 shares of company stock valued at $6,353,261 in the last three months. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Several institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its position in shares of TD SYNNEX by 115.1% in the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 183 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in TD SYNNEX by 11.2% in 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 buying an additional 708 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in TD SYNNEX in the 4th quarter valued at approximately $6,167,000. Forum Financial Management LP raised its holdings in TD SYNNEX by 10.0% during the 4th quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock valued at $295,000 after acquiring an additional 229 shares during the period. Finally, Vise Technologies Inc. purchased a new stake in shares of TD SYNNEX during the fourth quarter worth $276,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.