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

Morgan Stanley initiated coverage on shares of TD SYNNEX (NYSE:SNX - Free Report) in a research report released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $145.00 target price on the business services provider's stock.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Barclays decreased 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 note on Friday, March 28th. Wall Street Zen downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Cfra decreased their target price on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, UBS Group lowered their target price on TD SYNNEX from $150.00 to $138.00 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 eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $138.00.

TD SYNNEX Stock Down 0.3%

TD SYNNEX stock traded down $0.39 during midday trading on Wednesday, hitting $126.09. 235,028 shares of the stock were exchanged, compared to its average volume of 733,727. TD SYNNEX has a 52-week low of $92.23 and a 52-week high of $145.10. 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 business's 50-day moving average price is $114.98 and its 200-day moving average price is $123.77. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 1.06 and a beta of 1.29.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted 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 for 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%. TD SYNNEX's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.99 EPS. On average, research analysts expect that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, April 11th. TD SYNNEX's payout ratio is currently 21.97%.

Insider Activity

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction dated 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 $6,383,891.44. The trade was a 2.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Miriam Anne Murphy sold 3,000 shares of the firm'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 transaction of $330,000.00. Following the completion of the transaction, the insider now owns 14,883 shares of the company's stock, valued at $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SNX. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in TD SYNNEX by 329.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock worth $25,000 after buying an additional 188 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. Versant Capital Management Inc grew its holdings 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 worth $36,000 after purchasing an additional 183 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of TD SYNNEX in the first quarter worth approximately $44,000. Finally, Quarry LP purchased a new stake in TD SYNNEX in the first quarter valued at approximately $51,000. 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.