Bank of New York Mellon Corp Invests $149.73 Million in TD SYNNEX Corporation $SNX

Bank of New York Mellon Corp purchased a new stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 560,067 shares of the business services provider's stock, valued at approximately $149,728,000. Bank of New York Mellon Corp owned about 0.70% of TD SYNNEX at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in TD SYNNEX in the fourth quarter worth $148,559,000. Alyeska Investment Group L.P. purchased a new stake in TD SYNNEX during the third quarter valued at about $135,631,000. AQR Capital Management LLC raised its position in TD SYNNEX by 141.8% during the fourth quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider's stock valued at $140,431,000 after purchasing an additional 548,180 shares in the last quarter. Marshall Wace LLP lifted its stake in TD SYNNEX by 6,626.0% during the third quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider's stock worth $65,951,000 after purchasing an additional 396,766 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of TD SYNNEX by 4,021.1% in the 1st quarter. Pacer Advisors Inc. now owns 366,652 shares of the business services provider's stock worth $61,858,000 after purchasing an additional 357,755 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Activity at TD SYNNEX

In related news, Director Ann F. Vezina sold 1,273 shares of the business's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the sale, the director owned 5,828 shares of the company's stock, valued at $1,492,259.40. The trade was a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the transaction, the director owned 18,537 shares of the company's stock, valued at $4,503,934.89. The trade was a 21.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,273 shares of company stock valued at $4,253,752 in the last three months. Corporate insiders own 0.70% of the company's stock.

TD SYNNEX Price Performance

SNX opened at $250.14 on Monday. 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 stock has a market capitalization of $20.00 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The stock's 50 day moving average price is $257.93 and its 200-day moving average price is $220.29. TD SYNNEX Corporation has a 52-week low of $142.22 and a 52-week high of $296.47.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, beating 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 business had revenue of $19.57 billion for the quarter, compared to analysts' expectations of $16.80 billion. During the same quarter in the previous year, the business posted $2.99 earnings per share. The firm's revenue for the quarter 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. On average, equities research analysts predict that TD SYNNEX Corporation will post 18.01 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a $0.48 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.92 annualized dividend and a yield of 0.8%. TD SYNNEX's dividend payout ratio (DPR) is 13.74%.

Analysts Set New Price Targets

Several equities analysts have recently commented on SNX shares. Royal Bank Of Canada set a $340.00 price objective on TD SYNNEX in a research report on Friday, June 26th. Zacks Research raised shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. Barclays upped their price objective on shares of TD SYNNEX from $237.00 to $278.00 and gave the company an "equal weight" rating in a research note on Thursday, July 2nd. Weiss Ratings cut shares of TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. raised shares of TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price target for the company in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $294.67.

TD SYNNEX Company Profile

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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