Alyeska Investment Group L.P. Invests $24.02 Million in TD SYNNEX Corporation $SNX

Key Points

• Alyeska Investment Group L.P. acquired 231,071 shares of TD SYNNEX Corporation, valued at approximately $24 million, making it a new stakeholder in the company.
• Significant institutional interest is evident, with 84% of TD SYNNEX's stock owned by hedge funds and other institutional investors, as several firms have increased their stakes recently.
• TD SYNNEX reported a strong earnings performance, with $2.99 EPS, surpassing estimates and showing a 7.2% increase in revenue year-over-year.

Alyeska Investment Group L.P. purchased a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 231,071 shares of the business services provider's stock, valued at approximately $24,022,000. Alyeska Investment Group L.P. owned about 0.28% of TD SYNNEX as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Nuveen LLC bought a new position in TD SYNNEX in the 1st quarter worth approximately $121,259,000. Nuveen Asset Management LLC boosted its holdings in TD SYNNEX by 343.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock worth $141,913,000 after buying an additional 937,040 shares during the period. JPMorgan Chase & Co. boosted its holdings in TD SYNNEX by 16.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider's stock worth $405,441,000 after buying an additional 564,473 shares during the period. Boston Partners boosted its holdings in TD SYNNEX by 321.6% in the 1st quarter. Boston Partners now owns 591,958 shares of the business services provider's stock worth $61,547,000 after buying an additional 451,567 shares during the period. Finally, Abrams Bison Investments LLC boosted its holdings in TD SYNNEX by 19.4% in the 1st quarter. Abrams Bison Investments LLC now owns 2,683,000 shares of the business services provider's stock worth $278,925,000 after buying an additional 435,000 shares during the period. Hedge funds and other institutional investors own 84.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank Of Canada raised their price target on shares of TD SYNNEX from $145.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Barclays set a $140.00 price target on shares of TD SYNNEX in a report on Tuesday, June 24th. Finally, Bank of America raised their price target on shares of TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Eight analysts have rated the stock with a Buy rating and two have given 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.

Insider Activity

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

TD SYNNEX Trading Up 1.1%

NYSE:SNX traded up $1.64 during trading hours on Wednesday, reaching $150.91. The company's stock had a trading volume of 264,192 shares, compared to its average volume of 774,344. The firm has a 50-day simple moving average of $145.41 and a 200-day simple moving average of $129.02. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $153.70. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.22 and a beta of 1.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26.

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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $14.30 billion. During the same quarter in the previous year, the company earned $2.73 earnings per share. TD SYNNEX'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. Research analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

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