Advisors Preferred LLC Buys Shares of 13,836 TD SYNNEX Corporation $SNX

Key Points

• Advisors Preferred LLC acquired 13,836 shares of TD SYNNEX, valued at approximately $3.4 million. Institutional investors collectively own about 84% of the company’s stock.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $294.67; Morgan Stanley raised its target to $374.
• TD SYNNEX reported stronger-than-expected quarterly results, including $4.85 EPS and $19.57 billion in revenue, up 31% year over year. The company also pays a quarterly dividend of $0.48 per share.

Advisors Preferred LLC purchased a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,836 shares of the business services provider's stock, valued at approximately $3,385,000.

A number of other institutional investors have also modified their holdings of the company. Gamco Investors INC. ET AL grew its position in shares of TD SYNNEX by 1.1% in the first quarter. Gamco Investors INC. ET AL now owns 4,667 shares of the business services provider's stock valued at $787,000 after purchasing an additional 52 shares during the period. Essex Financial Services Inc. boosted its position in shares of TD SYNNEX by 2.9% in the first quarter. Essex Financial Services Inc. now owns 1,957 shares of the business services provider's stock worth $330,000 after acquiring an additional 56 shares during the last quarter. Kesler Norman & Wride LLC grew its holdings in TD SYNNEX by 0.7% in the first quarter. Kesler Norman & Wride LLC now owns 8,581 shares of the business services provider's stock valued at $1,448,000 after purchasing an additional 61 shares during the period. SJS Investment Consulting Inc. grew its holdings in TD SYNNEX by 44.6% in the first quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider's stock valued at $34,000 after purchasing an additional 62 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its position in TD SYNNEX by 3.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider's stock worth $317,000 after purchasing an additional 71 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 commented on the company. JPMorgan Chase & Co. upgraded TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price objective for the company in a report on Wednesday, May 27th. Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a research report on Friday, June 26th. Morgan Stanley upped their price target on TD SYNNEX from $341.00 to $374.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. Barclays lifted their price objective on TD SYNNEX from $237.00 to $278.00 and gave the company an "equal weight" rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings downgraded shares of TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, June 17th. One equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $294.67.

Insiders Place Their Bets

In other TD SYNNEX news, Director Ann F. Vezina sold 1,273 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $256.05, for a total value of $325,951.65. Following the transaction, the director owned 5,828 shares in the company, valued at $1,492,259.40. The trade was a 17.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $262.21, for a total transaction 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 approximately $3,549,536.77. The trade was a 26.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 16,273 shares of company stock valued at $4,253,752. Company insiders own 0.70% of the company's stock.

TD SYNNEX Trading Down 0.4%

Shares of SNX opened at $250.67 on Friday. TD SYNNEX Corporation has a 12 month low of $142.22 and a 12 month high of $296.47. The stock's 50-day moving average is $258.55 and its two-hundred day moving average is $219.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 0.64. The stock has a market cap of $20.04 billion, a PE ratio of 17.94, a P/E/G ratio of 0.71 and a beta of 1.44.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results 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 analyst estimates of $16.80 billion. During the same quarter last year, the firm earned $2.99 earnings per share. The company's revenue for the quarter 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. Equities analysts forecast that TD SYNNEX Corporation will post 18.01 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

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

TD SYNNEX Profile

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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