Ionic Capital Management LLC Purchases 3,000 Shares of TD SYNNEX Corporation $SNX

Key Points

• Ionic Capital Management LLC increased its stake in TD SYNNEX by 29.7%, owning 13,100 shares worth approximately $1.36 million, making it the firm's 23rd largest position.
• Several institutional investors, including Deutsche Bank AG, have been active in the fourth quarter, with Deutsche Bank increasing its stake by 276.3% and owning over 55,000 shares valued at $6.47 million.
• TD SYNNEX reported strong earnings, with Q2 EPS at $2.99, exceeding expectations, alongside a recent quarterly dividend of $0.44 per share, reflecting an annual yield of 1.2%.

Ionic Capital Management LLC lifted its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 29.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,100 shares of the business services provider's stock after buying an additional 3,000 shares during the quarter. TD SYNNEX makes up about 0.2% of Ionic Capital Management LLC's holdings, making the stock its 23rd biggest holding. Ionic Capital Management LLC's holdings in TD SYNNEX were worth $1,362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of TD SYNNEX by 16.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider's stock worth $405,441,000 after buying an additional 564,473 shares during the period. Abrams Bison Investments LLC grew its position in TD SYNNEX by 19.4% during the 1st quarter. Abrams Bison Investments LLC now owns 2,683,000 shares of the business services provider's stock valued at $278,925,000 after purchasing an additional 435,000 shares during the last quarter. Ninety One UK Ltd grew its position in TD SYNNEX by 8.5% during the 1st quarter. Ninety One UK Ltd now owns 2,565,191 shares of the business services provider's stock valued at $266,677,000 after purchasing an additional 200,628 shares during the last quarter. LSV Asset Management grew its position in TD SYNNEX by 10.3% during the 1st quarter. LSV Asset Management now owns 1,891,769 shares of the business services provider's stock valued at $196,668,000 after purchasing an additional 175,922 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in TD SYNNEX by 343.2% during the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock valued at $141,913,000 after purchasing an additional 937,040 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,509 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the transaction, the chief financial officer directly owned 49,563 shares in the company, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 63,310 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the completion of the transaction, the director owned 67,515 shares in the company, valued at $9,197,568.45. The trade was a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,888 shares of company stock valued at $9,115,025 over the last three months. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SNX shares. Barrington Research reiterated an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a report on Friday, July 11th. Wall Street Zen upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Royal Bank Of Canada increased their price target on shares of TD SYNNEX from $145.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. Bank of America increased their price target on shares of TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Barclays set a $140.00 price target on shares of TD SYNNEX in a report on Tuesday, June 24th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, TD SYNNEX currently has an average rating of "Moderate Buy" and an average target price of $151.30.

TD SYNNEX Stock Performance

Shares of NYSE SNX traded down $0.95 during trading on Tuesday, reaching $149.44. 552,170 shares of the company traded hands, compared to its average volume of 777,707. The firm has a 50 day simple moving average of $145.14 and a 200-day simple moving average of $128.88. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $12.32 billion, a PE ratio of 17.46, a P/E/G ratio of 1.22 and a beta of 1.35. TD SYNNEX Corporation has a 52-week low of $92.23 and a 52-week high of $153.70.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly 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 net margin of 1.21% and a return on equity of 11.58%. The firm had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter last year, the firm posted $2.73 EPS. The business'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. Equities research analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a $0.44 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.2%. TD SYNNEX's dividend payout ratio (DPR) is presently 20.56%.

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.