Alyeska Investment Group L.P. Grows Stock Holdings in TD SYNNEX Corporation $SNX

Key Points

• Alyeska Investment Group increased its TD SYNNEX stake by 885.7% in the second quarter, holding 358,312 shares valued at about $95.8 million. Institutional investors collectively own 84% of the company.
• Analyst sentiment remains positive, with eight Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and average price target of $294.67.
• TD SYNNEX exceeded quarterly expectations with $4.85 in EPS and $19.57 billion in revenue, up 31% year over year. The company also pays a quarterly dividend of $0.48 per share, yielding approximately 0.8%.

Alyeska Investment Group L.P. grew its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 885.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358,312 shares of the business services provider's stock after acquiring an additional 321,961 shares during the period. Alyeska Investment Group L.P. owned 0.45% of TD SYNNEX worth $95,791,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bell Investment Advisors Inc bought a new stake in TD SYNNEX during the 2nd quarter valued at $27,000. Fiduciary Financial Advisors bought a new position in shares of TD SYNNEX during the 2nd quarter worth $28,000. Compass Financial Management LLC purchased a new position in shares of TD SYNNEX during the second quarter valued at $38,000. Ossiam increased its stake in shares of TD SYNNEX by 84.3% during the third quarter. Ossiam now owns 164 shares of the business services provider's stock valued at $27,000 after buying an additional 75 shares during the period. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of TD SYNNEX in the third quarter valued at about $30,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on SNX. 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. Barrington Research upped their price target on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 26th. UBS Group increased their price objective on shares of TD SYNNEX from $310.00 to $352.00 and gave the company a "buy" rating in a research note on Friday, June 26th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a report on Friday, June 26th. Finally, Royal Bank Of Canada set a $340.00 price objective on shares of TD SYNNEX in a research note on Friday, June 26th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $294.67.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 1,273 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $256.05, for a total value of $325,951.65. Following the completion of the sale, the director directly owned 5,828 shares in the company, valued at approximately $1,492,259.40. This trade represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total value of $1,311,050.00. Following the completion of the sale, the director directly owned 13,537 shares of the company's stock, valued at approximately $3,549,536.77. This represents a 26.97% decrease in their position. 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 quarter, insiders sold 16,273 shares of company stock valued at $4,253,752. 0.70% of the stock is currently owned by company insiders.

TD SYNNEX Stock Down 2.5%

NYSE:SNX opened at $253.62 on Friday. TD SYNNEX Corporation has a fifty-two week low of $142.22 and a fifty-two week high of $296.47. The stock has a market capitalization of $20.28 billion, a P/E ratio of 18.15, a P/E/G ratio of 0.72 and a beta of 1.44. 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 50-day simple moving average is $254.85 and its 200-day simple moving average is $222.97.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 EPS 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 firm had revenue of $19.57 billion during the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the previous year, the business posted $2.99 EPS. TD SYNNEX's revenue was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, equities analysts anticipate 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. Investors of record on Friday, July 17th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, July 17th. TD SYNNEX's dividend payout ratio is currently 13.74%.

About TD SYNNEX

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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