Alliancebernstein L.P. Trims Holdings in TD SYNNEX Corporation $SNX

Key Points

• Alliancebernstein L.P. has reduced its holdings in TD SYNNEX Corporation by 11.5%, owning approximately 976,415 shares after selling 126,423 shares in the first quarter.
• Other institutional investors, such as Envestnet Asset Management Inc. and PNC Financial Services Group Inc., have either increased their stakes or made notable investments in the company during the same period.
• Analysts have set a consensus target price of $151.30 for TD SYNNEX shares, with many rating it as a "Moderate Buy."

Alliancebernstein L.P. trimmed its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 976,415 shares of the business services provider's stock after selling 126,423 shares during the period. Alliancebernstein L.P. owned about 1.16% of TD SYNNEX worth $101,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in TD SYNNEX by 36.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 75,778 shares of the business services provider's stock valued at $7,878,000 after purchasing an additional 20,280 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in TD SYNNEX by 3.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider's stock valued at $754,000 after purchasing an additional 244 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in TD SYNNEX by 11.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,361 shares of the business services provider's stock valued at $765,000 after purchasing an additional 785 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of TD SYNNEX by 16.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,390 shares of the business services provider's stock valued at $560,000 after acquiring an additional 763 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of TD SYNNEX by 95.8% during the 1st quarter. UMB Bank n.a. now owns 840 shares of the business services provider's stock valued at $87,000 after acquiring an additional 411 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America upped their price objective on shares of TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Barclays set a $140.00 price objective on shares of TD SYNNEX in a research note on Tuesday, June 24th. Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Barrington Research reaffirmed an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.30.

TD SYNNEX Trading Up 0.1%

NYSE SNX opened at $149.39 on Friday. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year 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 50-day moving average of $144.84 and a 200-day moving average of $129.02. The firm has a market cap of $12.32 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.35.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%.The company had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the previous year, the business earned $2.73 EPS. TD SYNNEX's revenue was up 7.2% compared to the same quarter last year. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. As a group, sell-side analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

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

Insider Transactions at TD SYNNEX

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

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.

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