Advisors Preferred LLC Buys New Position in TD SYNNEX Corporation $SNX

Key Points

• Advisors Preferred LLC opened a new position in TD SYNNEX during the first quarter, buying 20,550 shares worth about $3.47 million.
• TD SYNNEX reported stronger-than-expected quarterly results, with EPS of $4.85 and revenue of $19.57 billion, both beating analyst estimates and up sharply from a year earlier.
• Analysts remain broadly bullish on the stock, with a consensus Buy rating and an average price target of $294.67; the company also declared a quarterly dividend of $0.48 per share.

Advisors Preferred LLC purchased a new position in TD SYNNEX Corporation (NYSE:SNX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,550 shares of the business services provider's stock, valued at approximately $3,467,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of TD SYNNEX by 0.4% in the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider's stock worth $388,535,000 after purchasing an additional 9,024 shares during the period. Ninety One UK Ltd lifted its holdings in TD SYNNEX by 13.1% in the fourth quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider's stock worth $334,876,000 after buying an additional 258,630 shares during the period. LSV Asset Management lifted its holdings in TD SYNNEX by 16.1% in the fourth quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider's stock worth $313,471,000 after buying an additional 288,625 shares during the period. Geode Capital Management LLC boosted its position in TD SYNNEX by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider's stock valued at $230,315,000 after acquiring an additional 99,090 shares in the last quarter. Finally, Metropolis Capital Ltd boosted its position in TD SYNNEX by 9.5% during the 1st quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider's stock valued at $216,169,000 after acquiring an additional 111,222 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Richard T. Hume sold 5,000 shares of the company's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $242.97, for a total value of $1,214,850.00. Following the transaction, the director owned 18,537 shares in the company, valued at $4,503,934.89. The trade was a 21.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $4,933,700. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SNX. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a research report on Friday, June 26th. Morgan Stanley lifted their price target on TD SYNNEX from $341.00 to $374.00 and gave the company an "overweight" rating in a research report on Friday, June 26th. UBS Group upped their price target on TD SYNNEX from $310.00 to $352.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. Barclays increased their price objective on TD SYNNEX from $237.00 to $278.00 and gave the stock an "equal weight" rating in a report on Thursday, July 2nd. Finally, Royal Bank Of Canada set a $340.00 target price on shares of TD SYNNEX in a report on Friday, June 26th. One research 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. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $294.67.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $253.35 on Wednesday. TD SYNNEX Corporation has a twelve month low of $139.23 and a twelve month high of $296.47. 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 company has a market capitalization of $20.26 billion, a P/E ratio of 18.14, a PEG ratio of 0.71 and a beta of 1.43. The stock's 50 day moving average is $256.75 and its 200 day moving average is $200.72.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The business had revenue of $19.57 billion during the quarter, compared to analysts' expectations of $16.80 billion. During the same quarter in the previous year, the business earned $2.99 earnings per share. The firm's quarterly 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. On average, equities research analysts predict that TD SYNNEX Corporation will post 18.02 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, July 17th. TD SYNNEX's payout ratio is currently 13.74%.

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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