Algert Global LLC Has $32.42 Million Holdings in TD SYNNEX Corporation $SNX

Key Points

• Algert Global reduced its TD SYNNEX stake by 25.3% in the second quarter, selling 41,101 shares and retaining 121,260 shares worth approximately $32.4 million. Institutional investors and hedge funds collectively own 84% of SNX.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of $294.67; several firms recently raised their targets.
• TD SYNNEX reported strong quarterly results, with earnings of $4.85 per share and revenue of $19.57 billion, up 31% year over year. The company also declared a quarterly dividend of $0.48 per share, representing a 0.8% yield.

Algert Global LLC cut its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 25.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,260 shares of the business services provider's stock after selling 41,101 shares during the period. TD SYNNEX makes up approximately 0.4% of Algert Global LLC's holdings, making the stock its 15th biggest position. Algert Global LLC owned 0.15% of TD SYNNEX worth $32,418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of TD SYNNEX during the 2nd quarter worth approximately $1,958,683,000. State Street Corp raised its stake in shares of TD SYNNEX by 0.4% in the third quarter. State Street Corp now owns 2,372,733 shares of the business services provider's stock valued at $388,535,000 after purchasing an additional 9,024 shares in the last quarter. LSV Asset Management raised its stake in shares of 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 valued at $313,471,000 after purchasing an additional 288,625 shares in the last quarter. Geode Capital Management LLC lifted its position in TD SYNNEX by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider's stock worth $230,315,000 after purchasing an additional 99,090 shares during the period. Finally, Metropolis Capital Ltd lifted its position in TD SYNNEX by 9.5% in the first quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider's stock worth $216,169,000 after purchasing an additional 111,222 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on SNX shares. UBS Group boosted their price target on shares of TD SYNNEX from $310.00 to $352.00 and gave the company a "buy" rating in a report on Friday, June 26th. Barrington Research raised their price objective on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 26th. Weiss Ratings lowered shares of TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, June 17th. Morgan Stanley upped their target price on shares of TD SYNNEX from $341.00 to $374.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. Finally, Zacks Research raised shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $294.67.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the 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 sale, the director owned 13,537 shares of the company's stock, valued at $3,549,536.77. This represents a 26.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the completion of the sale, the director owned 5,828 shares of the company's stock, valued at $1,492,259.40. The trade was a 17.93% decrease in their position. The SEC filing for this sale provides additional information. 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.

TD SYNNEX Stock Down 2.5%

Shares of NYSE:SNX opened at $243.88 on Tuesday. TD SYNNEX Corporation has a 52 week low of $142.22 and a 52 week high of $296.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. The company's fifty day moving average is $257.12 and its 200-day moving average is $220.87. The company has a market capitalization of $19.50 billion, a PE ratio of 17.46, 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 for the quarter, topping the consensus estimate of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The business had revenue of $19.57 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the prior year, the firm earned $2.99 EPS. 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. Equities research analysts predict that TD SYNNEX Corporation will post 18.01 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

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%.

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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