Hsbc Holdings PLC Has $14.98 Million Stake in TD SYNNEX Corporation $SNX

Key Points

• Hsbc Holdings PLC increased its TD SYNNEX stake by 711.6% in the second quarter, owning 55,855 shares worth approximately $14.98 million. Institutional investors collectively own 84% of the company.
• TD SYNNEX reported strong quarterly results, with EPS of $4.85 versus the $4.14 consensus and revenue of $19.57 billion, up 31% year over year. The company issued third-quarter EPS guidance of $4.25–$4.75.
• Analysts maintain a generally positive outlook, with eight Buy ratings and two Holds and an average price target of $295.67. The company also declared a quarterly dividend of $0.48 per share, representing a 0.7% yield.

Hsbc Holdings PLC lifted its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 711.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,855 shares of the business services provider's stock after buying an additional 48,973 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of TD SYNNEX worth $14,981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in TD SYNNEX in the 2nd quarter valued at about $1,958,683,000. Norges Bank bought a new position in shares of TD SYNNEX in the fourth quarter worth about $148,559,000. Alyeska Investment Group L.P. acquired a new stake in shares of TD SYNNEX in the 3rd quarter valued at approximately $135,631,000. Bank of New York Mellon Corp bought a new stake in shares of TD SYNNEX during the 2nd quarter valued at approximately $149,728,000. Finally, AQR Capital Management LLC increased its position in TD SYNNEX by 141.8% during the 4th quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider's stock worth $140,431,000 after purchasing an additional 548,180 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

Insiders Place Their Bets

In other news, Director Ann Vezina sold 1,273 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the completion of the sale, the director directly owned 5,828 shares in the company, valued at $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total transaction of $1,311,050.00. Following the transaction, the director directly owned 13,537 shares of the company's stock, valued at $3,549,536.77. This represents a 26.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 11,273 shares of company stock worth $2,851,852. Insiders own 0.70% of the company's stock.

TD SYNNEX Trading Down 1.4%

NYSE SNX opened at $258.87 on Wednesday. The firm has a market capitalization of $20.70 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.74 and a beta of 1.43. The business's 50-day moving average price is $252.19 and its two-hundred day moving average price is $227.98. 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 12 month low of $142.22 and a 12 month high of $296.47.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The company had revenue of $19.57 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same period last year, the company earned $2.99 earnings per share. The firm's revenue was up 31.0% compared to the same quarter last year. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, analysts expect that TD SYNNEX Corporation will post 18.01 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a $0.48 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.7%. TD SYNNEX's payout ratio is 13.74%.

Wall Street Analyst Weigh In

SNX has been the subject of several research reports. Morgan Stanley increased their price objective on shares of TD SYNNEX from $341.00 to $374.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. UBS Group upped their price target on shares of TD SYNNEX from $310.00 to $352.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Barclays raised their price objective on TD SYNNEX from $278.00 to $287.00 and gave the company an "equal weight" rating in a report on Tuesday. Zacks Research lowered TD SYNNEX from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Finally, JPMorgan Chase & Co. upgraded TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 target price for the company in a research report on Wednesday, May 27th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $295.67.

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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