TD SYNNEX (NYSE:SNX) Cut to Hold at Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of TD SYNNEX (NYSE:SNX – Free Report) from a buy rating to a hold rating in a research note released on Sunday morning.

Several other analysts have also weighed in on the company. UBS Group upped their price objective on TD SYNNEX from $187.00 to $193.00 and gave the company a “buy” rating in a report on Friday, January 9th. Morgan Stanley lowered their price objective on shares of TD SYNNEX from $177.00 to $172.00 and set an “overweight” rating on the stock in a research report on Friday, January 9th. Zacks Research downgraded TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Barrington Research reiterated an “outperform” rating and set a $182.00 price objective on shares of TD SYNNEX in a report on Friday, January 9th. Finally, Barclays reduced their target price on shares of TD SYNNEX from $164.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, January 9th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus target price of $170.64.

Read Our Latest Report on TD SYNNEX

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $158.39 on Friday. TD SYNNEX has a 52 week low of $92.23 and a 52 week high of $167.76. The firm has a market capitalization of $12.90 billion, a P/E ratio of 15.89, a PEG ratio of 1.12 and a beta of 1.37. The firm’s 50 day moving average is $151.98 and its two-hundred day moving average is $151.14. The company has a current ratio of 1.21, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

TD SYNNEX (NYSE:SNX – Get Free Report) last announced its earnings results on Thursday, January 8th. The business services provider reported $3.83 earnings per share for the quarter, beating the consensus estimate of $3.68 by $0.15. TD SYNNEX had a return on equity of 12.60% and a net margin of 1.32%.The firm had revenue of $17.38 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter in the previous year, the business earned $3.09 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. TD SYNNEX has set its Q1 2026 guidance at 3.000-3.500 EPS. Analysts anticipate that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be issued a $0.48 dividend. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, January 16th. TD SYNNEX’s dividend payout ratio (DPR) is currently 19.26%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, insider Miriam Anne Murphy sold 1,673 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $156.49, for a total value of $261,807.77. Following the completion of the sale, the insider owned 16,529 shares of the company’s stock, valued at approximately $2,586,623.21. This represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $153.77, for a total transaction of $768,850.00. Following the completion of the sale, the director owned 47,515 shares of the company’s stock, valued at approximately $7,306,381.55. This represents a 9.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,177 shares of company stock worth $2,638,371 in the last three months. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Several institutional investors and hedge funds have recently modified their holdings of SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of TD SYNNEX by 9.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock valued at $1,749,000 after purchasing an additional 1,460 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of TD SYNNEX by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock valued at $18,631,000 after buying an additional 9,815 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of TD SYNNEX by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock valued at $21,226,000 after acquiring an additional 12,615 shares during the period. Farther Finance Advisors LLC increased its position in TD SYNNEX by 4.7% during the second quarter. Farther Finance Advisors LLC now owns 2,880 shares of the business services provider’s stock worth $391,000 after buying an additional 129 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of TD SYNNEX by 4.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 26,176 shares of the business services provider’s stock worth $3,552,000 after acquiring an additional 1,198 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

About TD SYNNEX

(Get Free Report)

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.

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