Algert Global LLC Sells 10,620 Shares of TD SYNNEX Corporation $SNX

Key Points

• Algert Global LLC has reduced its stake in TD SYNNEX Corporation by 68.1%, selling 10,620 shares and now holds 4,965 shares valued at approximately $516,000.
• A number of hedge funds have increased their investments in TD SYNNEX, with Mitsubishi UFJ Asset Management boosting its stake by 329.8% in the first quarter.
• In recent analyst ratings, Barrington Research maintained an "outperform" rating with a price target of $156.00, while forecasts suggest a consensus price target of $151.30.

Algert Global LLC cut its position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 68.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,965 shares of the business services provider's stock after selling 10,620 shares during the quarter. Algert Global LLC's holdings in TD SYNNEX were worth $516,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mariner LLC boosted its holdings in TD SYNNEX by 8.5% during the fourth quarter. Mariner LLC now owns 4,348 shares of the business services provider's stock valued at $510,000 after purchasing an additional 342 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in TD SYNNEX by 5.5% during the fourth quarter. Guggenheim Capital LLC now owns 3,227 shares of the business services provider's stock valued at $378,000 after purchasing an additional 167 shares in the last quarter. Marshall Wace LLP boosted its holdings in TD SYNNEX by 29.0% during the fourth quarter. Marshall Wace LLP now owns 3,224 shares of the business services provider's stock valued at $378,000 after purchasing an additional 724 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in TD SYNNEX by 157.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the business services provider's stock valued at $488,000 after purchasing an additional 2,547 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in TD SYNNEX by 44.0% during the fourth quarter. Stifel Financial Corp now owns 24,788 shares of the business services provider's stock valued at $2,907,000 after purchasing an additional 7,580 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada lifted their price objective on TD SYNNEX from $145.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Barrington Research reissued an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a report on Friday, July 11th. Loop Capital boosted their target price on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus target price of $151.30.

Insider Activity

In other news, insider Alim Dhanji sold 1,257 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the sale, the insider directly owned 10,984 shares of the company's stock, valued at approximately $1,564,231.44. This represents a 10.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 63,310 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the sale, the director owned 67,515 shares in the company, valued at $9,197,568.45. This represents a 48.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,888 shares of company stock valued at $9,115,025 in the last 90 days. 1.00% of the stock is owned by company insiders.

TD SYNNEX Stock Down 0.8%

Shares of TD SYNNEX stock traded down $1.12 during trading hours on Friday, reaching $148.45. 152,356 shares of the company's stock were exchanged, compared to its average volume of 784,143. The company has a 50 day moving average of $143.03 and a two-hundred day moving average of $128.82. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $153.70. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The stock has a market cap of $12.24 billion, a P/E ratio of 17.34, a P/E/G ratio of 1.21 and a beta of 1.32.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $14.30 billion. During the same period in the prior year, the business posted $2.73 EPS. The company's quarterly revenue was up 7.2% on a year-over-year basis. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. On average, sell-side analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

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

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.