Bank of Nova Scotia Buys Shares of 9,704 TD SYNNEX Corporation $SNX

Bank of Nova Scotia acquired a new stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,704 shares of the business services provider's stock, valued at approximately $2,594,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in TD SYNNEX during the second quarter worth approximately $1,958,683,000. Norges Bank acquired a new position in TD SYNNEX in the 4th quarter valued at $148,559,000. Alyeska Investment Group L.P. purchased a new position in shares of TD SYNNEX during the 3rd quarter worth $135,631,000. Bank of New York Mellon Corp purchased a new position in shares of TD SYNNEX during the 2nd quarter worth $149,728,000. Finally, AQR Capital Management LLC boosted its holdings in shares of 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 worth $140,431,000 after purchasing an additional 548,180 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $255.77 on Thursday. TD SYNNEX Corporation has a 1-year low of $142.22 and a 1-year high of $296.47. The business has a 50-day moving average of $255.96 and a 200-day moving average of $222.13. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 0.64. The company has a market capitalization of $20.45 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 0.71 and a beta of 1.44.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.14 by $0.71. The business had revenue of $19.57 billion during the quarter, compared to analyst estimates of $16.80 billion. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The company's revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.99 earnings per share. 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 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were given a $0.48 dividend. The ex-dividend date of this dividend 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%.

Insider Buying and Selling

In related news, Director Ann F. Vezina sold 1,273 shares of the firm's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the completion of the sale, the director directly owned 5,828 shares of the company's stock, valued at approximately $1,492,259.40. This trade represents a 17.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total transaction of $1,311,050.00. Following the sale, the director directly owned 13,537 shares in the company, valued at $3,549,536.77. This trade represents 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 have sold 16,273 shares of company stock worth $4,253,752 in the last quarter. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Royal Bank Of Canada set a $340.00 target price on TD SYNNEX in a research note on Friday, June 26th. Zacks Research raised TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. Barclays lifted their price target on TD SYNNEX from $237.00 to $278.00 and gave the company an "equal weight" rating in a report on Thursday, July 2nd. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a research note on Friday, June 26th. Finally, JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price objective on the stock in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price 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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