Dimensional Fund Advisors LP Lowers Holdings in TD SYNNEX Corporation $SNX

Key Points

• Dimensional Fund Advisors trimmed its TD SYNNEX stake by 0.9% in Q1, but still held 2.68 million shares valued at about $452 million. Institutional ownership remains high, with investors owning roughly 84% of the stock.
• Analysts are broadly positive on SNX after several target price hikes, including UBS, Morgan Stanley, RBC, Barclays, and Barrington Research. The stock now carries a consensus Buy rating with an average target price of $294.67.
• TD SYNNEX reported better-than-expected Q2 results, posting EPS of $4.85 versus $4.14 expected and revenue of $19.57 billion versus $16.80 billion expected. The company also announced a quarterly dividend of $0.48 per share, payable July 31.

Dimensional Fund Advisors LP decreased its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,679,601 shares of the business services provider's stock after selling 24,432 shares during the period. Dimensional Fund Advisors LP owned approximately 3.33% of TD SYNNEX worth $452,026,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SNX. Essex Financial Services Inc. increased its position in shares of TD SYNNEX by 2.9% during the first quarter. Essex Financial Services Inc. now owns 1,957 shares of the business services provider's stock valued at $330,000 after acquiring an additional 56 shares in the last quarter. Kesler Norman & Wride LLC increased its holdings in TD SYNNEX by 0.7% in the 1st quarter. Kesler Norman & Wride LLC now owns 8,581 shares of the business services provider's stock worth $1,448,000 after buying an additional 61 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in TD SYNNEX by 44.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider's stock worth $34,000 after buying an additional 62 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in TD SYNNEX by 3.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider's stock valued at $317,000 after acquiring an additional 71 shares during the period. Finally, Turtle Creek Wealth Advisors LLC boosted its holdings in shares of TD SYNNEX by 4.1% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 1,847 shares of the business services provider's stock valued at $312,000 after acquiring an additional 72 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. UBS Group boosted their target price on shares of TD SYNNEX from $310.00 to $352.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Royal Bank Of Canada set a $340.00 price target on shares of TD SYNNEX in a research report on Friday, June 26th. Morgan Stanley increased their target price on TD SYNNEX from $341.00 to $374.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th. Barclays raised their target price on shares of TD SYNNEX from $237.00 to $278.00 and gave the company an "equal weight" rating in a research note on Thursday, July 2nd. Finally, Barrington Research lifted their price objective on TD SYNNEX from $202.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $294.67.

Insider Activity

In related news, Director Richard T. Hume sold 5,000 shares of the business's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the completion of the transaction, the director owned 18,537 shares in the company, valued at $4,503,934.89. The trade was a 21.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 20,000 shares of company stock worth $4,933,700. 0.70% of the stock is currently owned by company insiders.

TD SYNNEX Trading Down 1.7%

Shares of SNX opened at $238.60 on Tuesday. The company's fifty day simple moving average is $257.39 and its 200-day simple moving average is $203.27. The company has a market cap of $19.08 billion, a P/E ratio of 17.08, a P/E/G ratio of 0.68 and a beta of 1.43. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. TD SYNNEX Corporation has a twelve month low of $139.23 and a twelve month high of $296.47.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, topping analysts' consensus estimates of $4.14 by $0.71. The firm had revenue of $19.57 billion during the quarter, compared to analysts' expectations of $16.80 billion. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The firm's revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, analysts expect that TD SYNNEX Corporation will post 18.02 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. TD SYNNEX's dividend payout ratio is currently 13.74%.

TD SYNNEX Company Profile

TD SYNNEX NYSE: SNX is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company's core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.

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