Applied Finance Capital Management LLC Makes New Investment in TD SYNNEX Corporation $SNX

Key Points

• Applied Finance Capital Management LLC has acquired a new stake in TD SYNNEX Corporation, purchasing 2,049 shares valued at approximately $278,000 during the second quarter.
• TD SYNNEX reported earnings per share (EPS) of $2.74 for the last quarter, which fell short of analysts' expectations of $3.05, despite revenues exceeding estimates at $15.65 billion.
• The firm announced a quarterly dividend of $0.44 per share, to be paid on October 31st, representing an annualized yield of 1.1% and a payout ratio of 19.09%.

Applied Finance Capital Management LLC acquired a new stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,049 shares of the business services provider's stock, valued at approximately $278,000.

A number of other hedge funds have also made changes to their positions in SNX. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in TD SYNNEX by 329.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock worth $25,000 after purchasing an additional 188 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of TD SYNNEX in the 1st quarter worth $44,000. Quarry LP acquired a new stake in shares of TD SYNNEX in the first quarter valued at $51,000. SVB Wealth LLC bought a new position in TD SYNNEX during the first quarter valued at about $72,000. Finally, Blue Trust Inc. grew its holdings in TD SYNNEX by 23.7% during the second quarter. Blue Trust Inc. now owns 543 shares of the business services provider's stock worth $74,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

TD SYNNEX Trading Down 1.2%

NYSE SNX opened at $153.17 on Friday. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $167.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 1.20. The stock has a market cap of $12.47 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.19 and a beta of 1.43. The firm's 50 day moving average price is $152.54 and its two-hundred day moving average price is $134.69.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Thursday, September 25th. The business services provider reported $2.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.05 by ($0.31). TD SYNNEX had a net margin of 1.27% and a return on equity of 12.13%. The business had revenue of $15.65 billion during the quarter, compared to analysts' expectations of $15.11 billion. During the same quarter in the previous year, the company earned $2.86 EPS. TD SYNNEX's revenue for the quarter was up 6.6% on a year-over-year basis. TD SYNNEX has set its Q4 2025 guidance at 3.450-3.950 EPS. Equities analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, October 17th. TD SYNNEX's payout ratio is 19.09%.

Insider Activity at TD SYNNEX

In related news, Director Ann F. Vezina sold 812 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total transaction of $122,141.04. Following the completion of the sale, the director directly owned 6,079 shares in the company, valued at approximately $914,403.18. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 861 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $149.84, for a total transaction of $129,012.24. Following the transaction, the chief financial officer directly owned 49,777 shares in the company, valued at $7,458,585.68. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,930 shares of company stock valued at $1,209,663 over the last ninety days. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on SNX. Bank of America upped their price target on shares of TD SYNNEX from $170.00 to $180.00 and gave the company a "buy" rating in a report on Friday, September 26th. Zacks Research upgraded shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. The Goldman Sachs Group raised their target price on shares of TD SYNNEX from $145.00 to $164.00 and gave the stock a "buy" rating in a report on Thursday, September 25th. Barclays upped their price target on TD SYNNEX from $140.00 to $164.00 and gave the company an "equal weight" rating in a report on Friday, September 26th. Finally, UBS Group lifted their target price on TD SYNNEX from $154.00 to $187.00 and gave the stock a "buy" rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $169.55.

TD SYNNEX Profile

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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