Causeway Capital Management LLC Sells 465,423 Shares of TD SYNNEX Corporation $SNX

Key Points

• Causeway Capital Management LLC significantly reduced its holdings in TD SYNNEX Corporation by 78%, selling 465,423 shares, and now owns 131,359 shares valued at approximately $13.66 million.
• Many large investors have increased their positions in TD SYNNEX, with Mariner LLC raising its stake by 8.5% and Tower Research Capital LLC TRC increasing its holdings by 157.6% in the last quarter.
• TD SYNNEX reported a quarterly earnings per share of $2.99, surpassing expectations, with a revenue of $14.95 billion and has declared a quarterly dividend of $0.44, translating to an annual yield of 1.2%.

Causeway Capital Management LLC trimmed its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 78.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,359 shares of the business services provider's stock after selling 465,423 shares during the period. Causeway Capital Management LLC owned about 0.16% of TD SYNNEX worth $13,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Mariner LLC lifted its position in shares of TD SYNNEX by 8.5% during the fourth quarter. Mariner LLC now owns 4,348 shares of the business services provider's stock valued at $510,000 after buying an additional 342 shares during the last quarter. Marshall Wace LLP increased its position in shares of TD SYNNEX by 29.0% in the 4th quarter. Marshall Wace LLP now owns 3,224 shares of the business services provider's stock valued at $378,000 after acquiring an additional 724 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of TD SYNNEX by 157.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the business services provider's stock valued at $488,000 after purchasing an additional 2,547 shares during the period. Stifel Financial Corp increased its holdings in TD SYNNEX by 44.0% in the 4th quarter. Stifel Financial Corp now owns 24,788 shares of the business services provider's stock worth $2,907,000 after buying an additional 7,580 shares during the period. Finally, IHT Wealth Management LLC purchased a new position in shares of TD SYNNEX during the fourth quarter worth $205,000. 84.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SNX has been the subject of a number of analyst reports. Loop Capital boosted their price target on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a report on Monday, June 30th. Bank of America lifted their price target on TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Finally, Barclays set a $140.00 price target on shares of TD SYNNEX in a research note on Tuesday, June 24th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $151.30.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,509 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following the transaction, the chief financial officer directly owned 49,563 shares in the company, valued at $6,212,722.05. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann F. Vezina sold 812 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total value of $122,141.04. Following the sale, the director owned 6,079 shares in the company, valued at approximately $914,403.18. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,888 shares of company stock worth $9,115,025. Company insiders own 1.00% of the company's stock.

TD SYNNEX Trading Down 0.8%

Shares of SNX opened at $148.63 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $141.59 and a 200 day moving average price of $128.50. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $153.70. The firm has a market capitalization of $12.26 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.22 and a beta of 1.32.

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

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX's dividend payout ratio is 20.56%.

TD SYNNEX 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.

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