BlackRock Inc. Takes $1.96 Billion Position in TD SYNNEX Corporation $SNX

Key Points

• BlackRock acquired 7.33 million TD SYNNEX shares worth approximately $1.96 billion, giving it a 9.16% stake. Institutional investors collectively own about 84% of the company.
• TD SYNNEX exceeded quarterly expectations with $4.85 in EPS versus the $4.14 consensus and $19.57 billion in revenue, up 31% year over year. Analysts maintain a consensus “Buy” rating with an average price target of $294.67.
• Company directors sold shares valued at roughly $1.54 million in recent transactions, while TD SYNNEX paid a quarterly dividend of $0.48 per share, representing a 0.8% annualized yield.

BlackRock Inc. purchased a new position in shares of 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 firm purchased 7,326,560 shares of the business services provider's stock, valued at approximately $1,958,683,000. BlackRock Inc. owned approximately 9.16% of TD SYNNEX at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bell Investment Advisors Inc bought a new position in TD SYNNEX during the 2nd quarter valued at $27,000. Ossiam increased its position in shares of TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of TD SYNNEX in the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $30,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of TD SYNNEX during the fourth quarter worth about $32,000. Institutional investors own 84.00% of the company's stock.

Insiders Place Their Bets

In other TD SYNNEX news, Director Ann F. Vezina sold 1,273 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $256.05, for a total value of $325,951.65. Following the sale, the director directly owned 5,828 shares of the company's stock, valued at $1,492,259.40. This trade represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard T. Hume sold 5,000 shares of the firm's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $242.97, for a total value of $1,214,850.00. Following the completion of the sale, the director owned 18,537 shares in the company, valued at $4,503,934.89. The trade was a 21.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 16,273 shares of company stock valued at $4,253,752. 0.70% of the stock is owned by company insiders.

TD SYNNEX Price Performance

SNX opened at $251.92 on Thursday. The firm has a market cap of $20.14 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 0.73 and a beta of 1.44. TD SYNNEX Corporation has a fifty-two week low of $142.22 and a fifty-two week high of $296.47. The company's 50-day moving average price is $259.09 and its 200 day moving average price is $219.01. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, beating analysts' consensus estimates of $4.14 by $0.71. The company had revenue of $19.57 billion during the quarter, compared to the consensus estimate of $16.80 billion. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.TD SYNNEX's quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, sell-side analysts expect that TD SYNNEX Corporation will post 18.01 earnings per share for the current year.

TD SYNNEX Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Zacks Research raised TD SYNNEX from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a report on Friday, June 26th. Barrington Research lifted their target price on TD SYNNEX from $202.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 26th. Morgan Stanley boosted their price target on TD SYNNEX from $341.00 to $374.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Finally, Barclays upped their price target on TD SYNNEX from $237.00 to $278.00 and gave the company an "equal weight" rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus 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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