11,000 TD SYNNEX Corporation $SNX Shares Sold by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors reduced its TD SYNNEX stake by 3.9%, selling 11,000 shares and retaining 270,600 shares worth approximately $69.5 million. Institutional investors collectively own 84% of the company.
• Analysts remain broadly bullish, with TD SYNNEX receiving an average “Buy” rating and a consensus price target of $331.14. UBS, Morgan Stanley, and Barclays recently raised their price targets.
• TD SYNNEX reported quarterly EPS of $5.68, beating estimates by $0.98, while revenue rose 37.7% year over year to $21.56 billion. The company also pays a quarterly dividend of $0.48 per share, yielding 0.8% annually.

Hennessy Advisors Inc. decreased its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 270,600 shares of the business services provider's stock after selling 11,000 shares during the period. TD SYNNEX accounts for 2.6% of Hennessy Advisors Inc.'s portfolio, making the stock its 3rd largest position. Hennessy Advisors Inc. owned 0.34% of TD SYNNEX worth $69,504,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bell Investment Advisors Inc acquired a new position in shares of TD SYNNEX during the second quarter worth about $27,000. Fiduciary Financial Advisors acquired a new stake in TD SYNNEX during the second quarter worth approximately $28,000. SBI Securities Co. Ltd. increased its position in TD SYNNEX by 116.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 117 shares of the business services provider's stock worth $30,000 after buying an additional 63 shares during the period. Compass Financial Management LLC acquired a new position in shares of TD SYNNEX in the second quarter valued at about $38,000. Finally, Parkside Financial Bank & Trust increased its position in TD SYNNEX by 32.8% during the second quarter. Parkside Financial Bank & Trust now owns 158 shares of the business services provider's stock worth $42,000 after acquiring an additional 39 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

Analysts Set New Price Targets

SNX has been the topic of a number of analyst reports. Barclays increased their target price on shares of TD SYNNEX from $278.00 to $287.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 8th. Weiss Ratings lowered TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, October 23rd. Zacks Research upgraded TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 29th. UBS Group increased their target price on TD SYNNEX from $352.00 to $379.00 and gave the company a "buy" rating in a research report on Friday, September 25th. Finally, Morgan Stanley lifted their price objective on TD SYNNEX from $334.00 to $359.00 and gave the stock an "overweight" rating in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $331.14.

TD SYNNEX Stock Performance

Shares of SNX opened at $236.81 on Monday. The company has a market cap of $18.89 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 0.47 and a beta of 1.37. TD SYNNEX Corporation has a 12-month low of $142.22 and a 12-month high of $298.77. The stock has a 50-day moving average price of $260.67 and a 200-day moving average price of $225.55. The company has a current ratio of 1.19, a quick ratio of 0.64 and a debt-to-equity ratio of 0.39.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Thursday, September 24th. The business services provider reported $5.68 earnings per share for the quarter, beating analysts' consensus estimates of $4.70 by $0.98. The firm had revenue of $21.56 billion for the quarter, compared to analyst estimates of $18.91 billion. TD SYNNEX had a net margin of 1.75% and a return on equity of 16.78%. The company's revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.58 EPS. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. As a group, equities analysts forecast that TD SYNNEX Corporation will post 20.35 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 16th were given a dividend of $0.48 per share. The ex-dividend date was Friday, October 16th. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. TD SYNNEX's dividend payout ratio (DPR) is presently 11.70%.

Insider Activity

In other news, insider Alim Dhanji sold 3,775 shares of the company's stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $241.01, for a total transaction of $909,812.75. Following the transaction, the insider owned 11,712 shares of the company's stock, valued at approximately $2,822,709.12. This represents a 24.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard T. Hume sold 5,000 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $262.21, for a total value of $1,311,050.00. Following the transaction, the director owned 13,537 shares in the company, valued at approximately $3,549,536.77. This represents a 26.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.70% of the stock is owned by corporate insiders.

About TD SYNNEX

TD SYNNEX Corporation NYSE: SNX is a global technology distributor and solutions aggregator. The company connects technology vendors with resellers, systems integrators, managed service providers, retailers and other channel partners, helping them market, sell, deploy and support technology products and services.

Its offerings include personal computing and endpoint devices, servers, data-center and networking equipment, software, cloud solutions, cybersecurity products, and related professional and managed services.

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