Ceredex Value Advisors LLC Lowers Stock Holdings in TD SYNNEX Corporation $SNX

Key Points

• Ceredex Value Advisors LLC significantly reduced its holdings in TD SYNNEX Corporation by 73.8%, owning approximately $9.70 million worth of shares after selling a substantial number.
• Multiple institutional investors have increased their stakes in TD SYNNEX, with Mitsubishi UFJ Asset Management Co. Ltd. raising its position by 329.8% in the first quarter.
• TD SYNNEX posted a strong quarterly earnings report, exceeding analysts' expectations with $2.99 EPS and a revenue of $14.95 billion, contributing to positive growth forecasts from various research analysts.

Ceredex Value Advisors LLC lowered its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 73.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 93,300 shares of the business services provider's stock after selling 262,925 shares during the quarter. Ceredex Value Advisors LLC owned 0.11% of TD SYNNEX worth $9,699,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of TD SYNNEX by 329.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock worth $25,000 after buying an additional 188 shares during the period. Versant Capital Management Inc lifted its stake in shares of TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after purchasing an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of TD SYNNEX during the 1st quarter worth $44,000. State of Wyoming lifted its stake in shares of TD SYNNEX by 51.9% during the 4th quarter. State of Wyoming now owns 594 shares of the business services provider's stock worth $70,000 after purchasing an additional 203 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of TD SYNNEX during the 1st quarter worth $72,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNX. Loop Capital increased their price target on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Barrington Research reissued an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday, July 11th. Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada boosted their price objective on TD SYNNEX from $145.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus target price of $151.30.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, insider Alim Dhanji sold 1,257 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total transaction of $179,009.37. Following the completion of the sale, the insider directly owned 10,984 shares of the company's stock, valued at approximately $1,564,231.44. This trade represents a 10.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the transaction, the chief financial officer directly owned 49,563 shares of the company's stock, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,888 shares of company stock valued at $9,115,025 in the last 90 days. Company insiders own 1.00% of the company's stock.

TD SYNNEX Stock Down 0.9%

NYSE SNX traded down $1.37 during trading hours on Friday, hitting $148.20. 452,357 shares of the company were exchanged, compared to its average volume of 540,387. The company has a 50 day moving average of $143.50 and a two-hundred day moving average of $128.85. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a 52-week low of $92.23 and a 52-week high of $153.70. The firm has a market cap of $12.22 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.22 and a beta of 1.32.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, topping 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 return on equity of 11.58% and a net margin of 1.21%.The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.73 EPS. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. Equities research analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

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

About TD SYNNEX

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.