AlphaQuest LLC Acquires New Position in TD SYNNEX Corporation $SNX

Key Points

• AlphaQuest LLC has acquired 2,499 shares of TD SYNNEX Corporation, valued at approximately $260,000, marking a new position for the fund in the company's stock.
• Several hedge funds, including Mitsubishi UFJ Asset Management, have significantly increased their stakes in TD SYNNEX, with 84.00% of the stock currently owned by institutional investors.
• TD SYNNEX reported strong quarterly earnings, with an EPS of $2.99 beating estimates, and announced a quarterly dividend of $0.44 per share, with a dividend yield of 1.2%.

AlphaQuest LLC purchased a new stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,499 shares of the business services provider's stock, valued at approximately $260,000.

Other large investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in shares of TD SYNNEX by 36.5% in the first quarter. Envestnet Asset Management Inc. now owns 75,778 shares of the business services provider's stock valued at $7,878,000 after purchasing an additional 20,280 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of TD SYNNEX by 3.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider's stock valued at $754,000 after purchasing an additional 244 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of TD SYNNEX by 11.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,361 shares of the business services provider's stock valued at $765,000 after purchasing an additional 785 shares during the period. PNC Financial Services Group Inc. increased its stake in TD SYNNEX by 16.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,390 shares of the business services provider's stock valued at $560,000 after buying an additional 763 shares during the period. Finally, UMB Bank n.a. increased its stake in TD SYNNEX by 95.8% during the 1st quarter. UMB Bank n.a. now owns 840 shares of the business services provider's stock valued at $87,000 after buying an additional 411 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SNX. Bank of America raised their target price on shares of TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Barclays set a $140.00 target price on shares of TD SYNNEX in a research note on Tuesday, June 24th. Finally, Loop Capital raised their target price on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $151.30.

TD SYNNEX Price Performance

Shares of NYSE:SNX traded up $0.66 during trading hours on Wednesday, hitting $147.24. 154,766 shares of the company's stock traded hands, compared to its average volume of 779,284. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $153.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26. The company's fifty day simple moving average is $144.10 and its two-hundred day simple moving average is $128.82. The company has a market cap of $12.14 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.21 and a beta of 1.35.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The company had revenue of $14.95 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter last year, the firm posted $2.73 EPS. The business's revenue for the quarter was up 7.2% on a year-over-year basis. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. As a group, equities analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX's dividend payout ratio (DPR) is 20.56%.

Insider Activity

In other news, insider Alim Dhanji sold 1,257 shares of TD SYNNEX stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the transaction, the insider directly owned 10,984 shares of the company's stock, valued at $1,564,231.44. This trade represents a 10.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ann F. Vezina sold 812 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total transaction of $122,141.04. Following the completion of the transaction, the director directly owned 6,079 shares in the company, valued at approximately $914,403.18. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,888 shares of company stock valued at $9,115,025. 1.00% of the stock is currently owned by insiders.

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.