Bank of America Corp DE Buys New Stake in TD SYNNEX Corporation $SNX

Key Points

• Bank of America acquired 423,264 TD SYNNEX shares worth approximately $113.2 million, representing about 0.53% of the company. Institutional investors and hedge funds collectively own 84% of SNX.
• Analysts maintain a positive outlook, with eight Buy ratings and two Holds; the stock has an average price target of $291.22, with targets as high as $352.
• TD SYNNEX reported quarterly EPS of $4.85 versus the $4.14 consensus and revenue of $19.57 billion, up 31% year over year. The company also declared a quarterly dividend of $0.48 per share, yielding about 0.7%.

Bank of America Corp DE bought a new stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 423,264 shares of the business services provider's stock, valued at approximately $113,155,000. Bank of America Corp DE owned approximately 0.53% of TD SYNNEX at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Freestone Grove Partners LP acquired a new stake in shares of TD SYNNEX in the 2nd quarter worth approximately $98,650,000. Caisse de depot et placement du Quebec acquired a new position in shares of TD SYNNEX during the 2nd quarter valued at $16,171,000. Man Group plc acquired a new position in shares of TD SYNNEX during the 2nd quarter valued at $6,322,000. Jupiter Topco LLC bought a new stake in shares of TD SYNNEX in the 2nd quarter worth $8,466,000. Finally, J. Goldman & Co LP bought a new stake in shares of TD SYNNEX in the 2nd quarter worth $3,529,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank Of Canada set a $340.00 target price on TD SYNNEX in a research note on Friday, June 26th. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price objective for the company in a research report on Wednesday, May 27th. The Goldman Sachs Group set a $330.00 target price on shares of TD SYNNEX in a report on Friday, June 26th. UBS Group raised their target price on shares of TD SYNNEX from $310.00 to $352.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Finally, Barrington Research lifted 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. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $291.22.

Insiders Place Their Bets

In related news, Director Ann F. Vezina sold 1,273 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the sale, the director directly owned 5,828 shares in the company, valued at $1,492,259.40. This represents a 17.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the business's stock in a transaction on 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 sale, the director owned 13,537 shares of the company's stock, valued at approximately $3,549,536.77. The trade was a 26.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,273 shares of company stock worth $2,851,852 over the last quarter. Company insiders own 0.70% of the company's stock.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $266.57 on Friday. The firm has a market capitalization of $21.32 billion, a PE ratio of 19.08, a PEG ratio of 0.75 and a beta of 1.43. TD SYNNEX Corporation has a 1-year low of $142.22 and a 1-year high of $296.47. The business's 50 day moving average is $254.70 and its 200-day moving average is $233.30. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $16.80 billion. During the same quarter in the previous year, the company earned $2.99 earnings per share. The business's revenue was up 31.0% compared to the same quarter last year. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Sell-side analysts predict that TD SYNNEX Corporation will post 18.01 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, July 17th. TD SYNNEX's dividend payout ratio is 13.74%.

TD SYNNEX Company Profile

TD SYNNEX Corporation NYSE: SNX is a global technology distributor and solutions aggregator that connects technology manufacturers with resellers, systems integrators, managed service providers and other business partners. The company helps its partners design, procure, configure and deliver technology solutions to organizations across a range of industries.

Its portfolio includes personal computing devices, peripherals, networking equipment, data-center infrastructure, cybersecurity products, software and cloud services.

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