Freestone Grove Partners LP purchased a new position in TD SYNNEX Corporation (NYSE:SNX – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 369,005 shares of the business services provider’s stock, valued at approximately $98,650,000. TD SYNNEX makes up 0.6% of Freestone Grove Partners LP’s investment portfolio, making the stock its 27th largest position.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bell Investment Advisors Inc purchased a new position in TD SYNNEX during the 2nd quarter valued at $27,000. Fiduciary Financial Advisors bought a new position in TD SYNNEX in the 2nd quarter valued at $28,000. Compass Financial Management LLC purchased a new stake in TD SYNNEX in the second quarter worth $38,000. Ossiam lifted its position in shares of TD SYNNEX by 84.3% during the third quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of TD SYNNEX during the third quarter worth $30,000. 84.00% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total value of $1,311,050.00. Following the transaction, the director directly owned 13,537 shares in the company, valued at approximately $3,549,536.77. This trade represents a 26.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $256.05, for a total value of $325,951.65. Following the completion of the transaction, the director directly owned 5,828 shares of the company’s stock, valued at approximately $1,492,259.40. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 16,273 shares of company stock valued at $4,253,752. 0.70% of the stock is owned by company insiders.
TD SYNNEX Trading Up 1.7%
TD SYNNEX (NYSE:SNX – Get Free Report) last announced its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The firm had revenue of $19.57 billion during the quarter, compared to analysts’ expectations of $16.80 billion. During the same quarter in the prior year, the company earned $2.99 EPS. The company’s revenue was up 31.0% compared to the same quarter last year. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Equities analysts forecast that TD SYNNEX Corporation will post 18.01 EPS for the current fiscal year.
TD SYNNEX Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. TD SYNNEX’s dividend payout ratio is currently 13.74%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Weiss Ratings cut shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective for the company in a report on Wednesday, May 27th. Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. The Goldman Sachs Group set a $330.00 target price on shares of TD SYNNEX in a research note on Friday, June 26th. Finally, Barrington Research raised their target price on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX presently has an average rating of “Buy” and an average price target of $294.67.
Get Our Latest Stock Report on TD SYNNEX
About TD SYNNEX
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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