North Point Portfolio Managers Corp OH bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,234 shares of the business services provider’s stock, valued at approximately $4,683,000.
Several other hedge funds have also recently added to or reduced their stakes in SNX. BlackRock Inc. acquired a new stake in shares of TD SYNNEX during the 2nd quarter worth about $1,958,683,000. Bank of New York Mellon Corp bought a new stake in TD SYNNEX in the second quarter worth $149,728,000. Bank of America Corp DE bought a new stake in TD SYNNEX in the second quarter worth $113,155,000. Freestone Grove Partners LP purchased a new stake in TD SYNNEX during the second quarter valued at about $98,650,000. Finally, Pacer Advisors Inc. grew its stake in shares of TD SYNNEX by 4,021.1% during the first quarter. Pacer Advisors Inc. now owns 366,652 shares of the business services provider’s stock valued at $61,858,000 after buying an additional 357,755 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Barclays increased their price objective on TD SYNNEX from $278.00 to $287.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of TD SYNNEX in a report on Monday, September 14th. UBS Group increased their price target on shares of TD SYNNEX from $352.00 to $379.00 and gave the company a “buy” rating in a research report on Friday, September 25th. The Goldman Sachs Group set a $330.00 price target on shares of TD SYNNEX in a report on Friday, June 26th. Finally, Royal Bank Of Canada set a $340.00 price objective on shares of TD SYNNEX in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $331.14.
Insider Transactions at TD SYNNEX
In related news, Director Ann Vezina sold 1,273 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $256.05, for a total value of $325,951.65. Following the completion of the sale, the director owned 5,828 shares of the company’s stock, valued at approximately $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard Hume sold 5,000 shares of TD SYNNEX stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total transaction of $1,311,050.00. Following the transaction, the director directly owned 13,537 shares in the company, valued at $3,549,536.77. This trade represents a 26.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.70% of the stock is currently owned by corporate insiders.
TD SYNNEX Stock Performance
Shares of SNX traded down $4.64 during trading hours on Wednesday, hitting $273.74. The stock had a trading volume of 173,381 shares, compared to its average volume of 822,744. The firm has a 50-day moving average price of $260.50 and a 200 day moving average price of $243.60. TD SYNNEX Corporation has a fifty-two week low of $142.22 and a fifty-two week high of $298.77. The firm has a market capitalization of $21.84 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 0.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.64 and a current ratio of 1.19.
TD SYNNEX (NYSE:SNX – Get Free Report) last released its quarterly earnings results on Thursday, September 24th. The business services provider reported $5.68 EPS for the quarter, beating the consensus estimate of $4.70 by $0.98. TD SYNNEX had a net margin of 1.75% and a return on equity of 16.78%. The company had revenue of $21.56 billion for the quarter, compared to analyst estimates of $18.91 billion. During the same quarter last year, the business earned $3.58 earnings per share. The firm’s revenue was up 37.7% on a year-over-year basis. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. As a group, research analysts anticipate that TD SYNNEX Corporation will post 19.89 EPS for the current year.
TD SYNNEX Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 16th. TD SYNNEX’s dividend payout ratio is currently 11.70%.
TD SYNNEX Profile
TD SYNNEX Corporation is a global technology distributor and solutions aggregator that connects technology vendors with resellers, systems integrators, managed service providers and other channel partners. The company helps bring hardware, software and cloud-based solutions to market while supporting partners with sales, marketing, logistics, financing and technical services.
Its portfolio includes data center and networking equipment, personal computing and endpoint devices, software, cybersecurity products, cloud services, unified communications, mobility solutions and emerging technologies.
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