Healthcare of Ontario Pension Plan Trust Fund Takes Position in TD SYNNEX Corporation $SNX

Key Points

• Healthcare of Ontario Pension Plan Trust Fund purchased 60,400 TD SYNNEX shares valued at approximately $10.19 million, while institutional investors collectively own 84% of the company.
• Analysts remain broadly positive, with TD SYNNEX receiving a consensus “Buy” rating and an average price target of $294.67; several firms recently raised targets, including UBS to $352.
• TD SYNNEX exceeded quarterly expectations with $4.85 EPS and $19.57 billion in revenue, up 31% year over year. The company also declared a quarterly dividend of $0.48 per share, representing a 0.8% annualized yield.

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 60,400 shares of the business services provider's stock, valued at approximately $10,190,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.08% of TD SYNNEX as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL lifted its stake in TD SYNNEX by 1.1% in the first quarter. Gamco Investors INC. ET AL now owns 4,667 shares of the business services provider's stock valued at $787,000 after acquiring an additional 52 shares during the last quarter. Essex Financial Services Inc. increased its stake in shares of TD SYNNEX by 2.9% during the 1st quarter. Essex Financial Services Inc. now owns 1,957 shares of the business services provider's stock worth $330,000 after purchasing an additional 56 shares during the last quarter. Kesler Norman & Wride LLC increased its stake in shares of TD SYNNEX by 0.7% during the 1st quarter. Kesler Norman & Wride LLC now owns 8,581 shares of the business services provider's stock worth $1,448,000 after purchasing an additional 61 shares during the last quarter. SJS Investment Consulting Inc. raised its holdings in shares of TD SYNNEX by 44.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider's stock valued at $34,000 after purchasing an additional 62 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in shares of TD SYNNEX by 3.5% in 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 purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SNX shares. Barrington Research upped their price objective on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 26th. UBS Group boosted their price target on TD SYNNEX from $310.00 to $352.00 and gave the stock a "buy" rating 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 target for the company in a research note on Wednesday, May 27th. Weiss Ratings downgraded TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 17th. Finally, Zacks Research upgraded TD SYNNEX from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, TD SYNNEX has a consensus rating of "Buy" and an average price target of $294.67.

TD SYNNEX Stock Performance

Shares of SNX opened at $247.01 on Wednesday. The company has a market capitalization of $19.75 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 0.69 and a beta of 1.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 0.64. TD SYNNEX Corporation has a one year low of $139.23 and a one year high of $296.47. The company's fifty day moving average price is $259.43 and its 200 day moving average price is $207.32.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. The business's quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.99 earnings per share. 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 18.01 earnings per share for the current year.

TD SYNNEX Dividend Announcement

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

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $242.97, for a total value of $1,214,850.00. Following the transaction, the director directly owned 18,537 shares of the company's stock, valued at $4,503,934.89. The trade was a 21.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 20,000 shares of company stock valued at $4,933,700. Company insiders own 0.70% of the company's stock.

TD SYNNEX 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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