TD SYNNEX Corporation $SNX Shares Sold by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP significantly reduced its stake in TD SYNNEX Corporation by 80.0%, selling 96,079 shares and now holding 24,001 shares valued at approximately $2.5 million.
• TD SYNNEX reported earnings of $2.99 per share for the last quarter, exceeding analysts' expectations of $2.71, and its revenue increased by 7.2% year-over-year.
• Several analysts have raised their price targets for TD SYNNEX, with Loop Capital and Bank of America setting new targets of $160.00 and $170.00 respectively, indicating strong market sentiment.

Concentric Capital Strategies LP lowered its position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 80.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,001 shares of the business services provider's stock after selling 96,079 shares during the period. Concentric Capital Strategies LP's holdings in TD SYNNEX were worth $2,495,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SNX. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of TD SYNNEX by 329.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock valued at $25,000 after buying an additional 188 shares during the period. Versant Capital Management Inc increased its stake in shares of TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after buying an additional 183 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of TD SYNNEX during the first quarter valued at $44,000. Quarry LP purchased a new position in shares of TD SYNNEX during the first quarter valued at $51,000. Finally, State of Wyoming increased its stake in shares of TD SYNNEX by 51.9% during the fourth quarter. State of Wyoming now owns 594 shares of the business services provider's stock valued at $70,000 after buying an additional 203 shares during the period. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Transactions at TD SYNNEX

In related news, insider Alim Dhanji sold 1,257 shares of TD SYNNEX stock in a transaction dated 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 owned 10,984 shares of the company's stock, valued at $1,564,231.44. The trade was a 10.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the transaction, the chief financial officer directly owned 49,563 shares of the company's stock, valued at $6,212,722.05. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,888 shares of company stock worth $9,115,025. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SNX has been the topic of several research reports. Royal Bank Of Canada raised their price target on TD SYNNEX from $145.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday, August 22nd. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Bank of America lifted their target price on TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Barrington Research reiterated an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $151.30.

TD SYNNEX Stock Up 0.1%

NYSE SNX traded up $0.19 during trading on Friday, hitting $149.39. The company's stock had a trading volume of 776,849 shares, compared to its average volume of 498,531. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. The company has a market cap of $12.32 billion, a PE ratio of 17.45, a P/E/G ratio of 1.22 and a beta of 1.35. The business's 50 day simple moving average is $144.84 and its 200-day simple moving average is $128.92. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $153.70.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share 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 the consensus estimate of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%.The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $2.73 earnings per share. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. On average, equities analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

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