48,337 Shares in TD SYNNEX Corporation $SNX Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 48,337 TD SYNNEX shares worth approximately $12.9 million, while institutional investors collectively own 84% of the company.
• Analysts remain broadly bullish, with eight Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $294.67.
• TD SYNNEX reported strong quarterly results, earning $4.85 per share versus the $4.14 estimate and generating $19.57 billion in revenue, up 31% year over year; it also maintains a quarterly dividend of $0.48 per share.

The Manufacturers Life Insurance Company bought a new stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 48,337 shares of the business services provider's stock, valued at approximately $12,922,000. The Manufacturers Life Insurance Company owned about 0.06% of TD SYNNEX as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Fiduciary Financial Advisors acquired a new position in shares of TD SYNNEX during the second quarter worth approximately $28,000. Manning & Napier Advisors LLC acquired a new stake in shares of TD SYNNEX in the second quarter worth $312,000. Cetera Trust Company N.A acquired a new stake in shares of TD SYNNEX in the second quarter worth $733,000. Paradigm Capital Management Inc. NY bought a new position in TD SYNNEX during the second quarter worth $18,520,000. Finally, Sanctuary Advisors LLC acquired a new position in TD SYNNEX during the 2nd quarter valued at $2,979,000. 84.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNX has been the topic of several research analyst reports. Morgan Stanley raised their price target on shares of TD SYNNEX from $341.00 to $374.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a research note on Friday, June 26th. Barrington Research raised their price objective on TD SYNNEX from $202.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 26th. UBS Group boosted their price objective on TD SYNNEX from $310.00 to $352.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. raised TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 target price for the company in a research report on Wednesday, May 27th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $294.67.

TD SYNNEX Price Performance

NYSE:SNX opened at $253.62 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm has a market cap of $20.28 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 0.73 and a beta of 1.44. TD SYNNEX Corporation has a 12 month low of $142.22 and a 12 month high of $296.47. The company's 50-day moving average price is $254.85 and its two-hundred day moving average price is $222.97.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $19.57 billion during the quarter, compared to analyst estimates of $16.80 billion. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The company's revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the business posted $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, equities analysts anticipate that TD SYNNEX Corporation will post 18.01 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, July 17th. TD SYNNEX's dividend payout ratio is presently 13.74%.

Insiders Place Their Bets

In related news, Director Richard T. 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 value of $1,311,050.00. Following the completion of the transaction, the director directly owned 13,537 shares of the company's stock, valued at $3,549,536.77. The trade was a 26.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the sale, the director directly owned 5,828 shares in the company, valued at approximately $1,492,259.40. This represents a 17.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,273 shares of company stock valued at $4,253,752. 0.70% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source