Burgundy Asset Management Ltd. Acquires 9,690 Shares of TD SYNNEX Corporation $SNX

Key Points

• Burgundy Asset Management Ltd. increased its position in TD SYNNEX Corporation by 6.7%, now owning 153,564 shares valued at approximately $15.97 million.
• Several institutional investors, including Barclays PLC and Envestnet Asset Management Inc., have also increased their stakes in TD SYNNEX in recent months, indicating a strong confidence in the stock.
• TD SYNNEX reported better-than-expected earnings in the latest quarter, with an EPS of $2.99, surpassing analysts' estimates by $0.28, and revenues of $14.95 billion.

Burgundy Asset Management Ltd. raised its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 6.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 153,564 shares of the business services provider's stock after acquiring an additional 9,690 shares during the period. Burgundy Asset Management Ltd. owned about 0.18% of TD SYNNEX worth $15,965,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Ellevest Inc. raised its stake in TD SYNNEX by 3.9% in the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock valued at $280,000 after buying an additional 90 shares during the period. Crossmark Global Holdings Inc. raised its stake in TD SYNNEX by 1.6% in the first quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock valued at $630,000 after buying an additional 94 shares during the period. Utah Retirement Systems boosted its holdings in shares of TD SYNNEX by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after acquiring an additional 100 shares during the period. State of Michigan Retirement System boosted its holdings in shares of TD SYNNEX by 0.6% during the first quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider's stock worth $1,873,000 after acquiring an additional 100 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of TD SYNNEX by 0.5% during the first quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the business services provider's stock worth $2,194,000 after acquiring an additional 100 shares during the period. 84.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 value of $122,141.04. Following the completion of the transaction, the director owned 6,079 shares in the company, valued at $914,403.18. This trade represents a 11.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alim Dhanji sold 1,257 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the completion of the sale, the insider owned 10,984 shares in the company, valued at $1,564,231.44. The trade was a 10.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,888 shares of company stock worth $9,115,025 in the last 90 days. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SNX shares. Barclays set a $140.00 price objective on TD SYNNEX in a report on Tuesday, June 24th. Barrington Research restated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a report on Friday, July 11th. Morgan Stanley set a $155.00 price objective on TD SYNNEX and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Royal Bank Of Canada restated an "outperform" rating and set a $145.00 price objective on shares of TD SYNNEX in a report on Wednesday, June 25th. Finally, Bank of America raised their target price on shares of TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.30.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock traded down $0.80 during midday trading on Thursday, hitting $144.49. 405,625 shares of the company traded hands, compared to its average volume of 794,723. The firm's fifty day moving average price is $140.21 and its 200-day moving average price is $128.55. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.19 and a beta of 1.32. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $153.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. The business had revenue of $14.95 billion during the quarter, compared to analyst estimates of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $2.73 EPS. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. As a group, sell-side analysts forecast that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, July 11th. TD SYNNEX's dividend payout ratio (DPR) is 20.56%.

TD SYNNEX Company 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.