TD SYNNEX Corporation $SNX Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. has reduced its holdings in TD SYNNEX Corporation by 2.9%, selling 2,470 shares and holding a total of 83,216 shares valued at approximately $8.65 million.
• Insider trading includes Director Richard T. Hume selling 63,310 shares valued at over $8.62 million and CFO Marshall Witt selling 1,509 shares, reflecting a notable decrease in their ownership positions.
• TD SYNNEX reported a quarterly EPS of $2.99, beating estimates by $0.28, with quarterly revenue of $14.95 billion, and announced a quarterly dividend of $0.44, reflecting a modest yield of 1.2%.

Corebridge Financial Inc. lowered its position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,216 shares of the business services provider's stock after selling 2,470 shares during the quarter. Corebridge Financial Inc. owned 0.10% of TD SYNNEX worth $8,651,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in shares of TD SYNNEX by 36.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 75,778 shares of the business services provider's stock valued at $7,878,000 after purchasing an additional 20,280 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in TD SYNNEX by 3.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider's stock valued at $754,000 after acquiring an additional 244 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in TD SYNNEX by 11.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,361 shares of the business services provider's stock valued at $765,000 after acquiring an additional 785 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in TD SYNNEX by 16.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,390 shares of the business services provider's stock valued at $560,000 after acquiring an additional 763 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of TD SYNNEX by 95.8% in the 1st quarter. UMB Bank n.a. now owns 840 shares of the business services provider's stock worth $87,000 after purchasing an additional 411 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Trading Down 0.9%

NYSE SNX traded down $1.37 on Friday, reaching $148.20. The stock had a trading volume of 452,357 shares, compared to its average volume of 532,795. The firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.21 and a beta of 1.35. 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 12-month low of $92.23 and a 12-month high of $153.70. The stock has a fifty day moving average price of $143.50 and a two-hundred day moving average price of $128.67.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results 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. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%.The company had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the company earned $2.73 earnings per share. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. 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 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a dividend of $0.44 per share. 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 currently 20.56%.

Insiders Place Their Bets

In related news, Director Ann F. Vezina sold 812 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total value of $122,141.04. Following the transaction, the director owned 6,079 shares of the company's stock, valued at $914,403.18. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alim Dhanji sold 1,257 shares of the stock in a transaction 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 transaction, the insider directly owned 10,984 shares in the company, valued at $1,564,231.44. This trade represents a 10.27% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,888 shares of company stock worth $9,115,025. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on SNX shares. Barclays set a $140.00 price objective on TD SYNNEX in a research report on Tuesday, June 24th. 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. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Barrington Research reiterated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, July 11th. Finally, Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $151.30.

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.