Engineers Gate Manager LP Trims Position in TD SYNNEX Corporation $SNX

Key Points

• Engineers Gate Manager LP cut its TD SYNNEX stake by 29.1% in the second quarter, selling 12,469 shares and retaining 30,334 shares valued at approximately $8.1 million. Institutional investors collectively own 84% of the company.
• TD SYNNEX reported a strong quarter, with EPS of $4.85 versus the $4.14 consensus and revenue of $19.57 billion, up 31% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $295.67.
• The stock opened at $255.94 and recently traded within a 12-month range of $142.22 to $296.47. The company also declared a quarterly dividend of $0.48 per share, representing a 0.8% annualized yield.

Engineers Gate Manager LP reduced its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 29.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,334 shares of the business services provider's stock after selling 12,469 shares during the period. Engineers Gate Manager LP's holdings in TD SYNNEX were worth $8,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital Analysts LLC lifted its position in TD SYNNEX by 10.9% during the second quarter. Capital Analysts LLC now owns 598 shares of the business services provider's stock valued at $160,000 after purchasing an additional 59 shares during the period. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in TD SYNNEX during the 2nd quarter worth about $248,000. Baird Financial Group Inc. acquired a new stake in TD SYNNEX during the 2nd quarter worth about $350,000. Allworth Financial LP raised its stake in shares of TD SYNNEX by 3.9% during the 2nd quarter. Allworth Financial LP now owns 2,297 shares of the business services provider's stock valued at $614,000 after buying an additional 87 shares during the last quarter. Finally, Arizona State Retirement System raised its position in TD SYNNEX by 0.7% during the second quarter. Arizona State Retirement System now owns 19,964 shares of the business services provider's stock valued at $5,337,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard Hume sold 5,000 shares of the business's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the transaction, the director owned 18,537 shares of the company's stock, valued at approximately $4,503,934.89. The trade was a 21.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann Vezina sold 1,273 shares of the firm's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the sale, the director owned 5,828 shares of the company's stock, valued at approximately $1,492,259.40. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 11,273 shares of company stock worth $2,851,852. Insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNX. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a research report on Friday, June 26th. JPMorgan Chase & Co. upgraded TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price objective on the stock in a report on Wednesday, May 27th. Barclays boosted their price objective on TD SYNNEX from $278.00 to $287.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Barrington Research raised their target price on TD SYNNEX from $202.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 26th. Finally, Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a research note on Friday, June 26th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $295.67.

TD SYNNEX Stock Performance

SNX opened at $255.94 on Friday. The firm has a market capitalization of $20.46 billion, a PE ratio of 18.32, a PEG ratio of 0.73 and a beta of 1.43. TD SYNNEX Corporation has a twelve month low of $142.22 and a twelve month high of $296.47. The firm's 50-day moving average price is $252.36 and its 200 day moving average price is $229.33. 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 (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $0.71. The company 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%. TD SYNNEX's revenue was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, sell-side analysts expect that TD SYNNEX Corporation will post 18.01 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, July 17th. TD SYNNEX's payout ratio is currently 13.74%.

About TD SYNNEX

TD SYNNEX Corporation NYSE: SNX is a global technology distributor and solutions aggregator that connects technology manufacturers with resellers, systems integrators, managed service providers and other business partners. The company helps its partners design, procure, configure and deliver technology solutions to organizations across a range of industries.

Its portfolio includes personal computing devices, peripherals, networking equipment, data-center infrastructure, cybersecurity products, software and cloud services.

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