Jupiter Topco LLC Purchases Shares of 31,635 TD SYNNEX Corporation $SNX

Key Points

• Jupiter Topco acquired 31,635 TD SYNNEX shares worth approximately $8.5 million in the second quarter. Institutional investors own about 84% of the company, with BlackRock also establishing a significant new position.
• TD SYNNEX reported quarterly earnings of $4.85 per share, exceeding estimates of $4.14, while revenue rose 31% year over year to $19.57 billion. The company guided for third-quarter EPS of $4.25–$4.75.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $294.67, compared with the stock’s reported price of $253.62. The company also pays a quarterly dividend of $0.48 per share, yielding about 0.8%.

Jupiter Topco LLC acquired a new stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 31,635 shares of the business services provider's stock, valued at approximately $8,466,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in TD SYNNEX in the second quarter worth approximately $1,958,683,000. Norges Bank purchased a new stake in shares of TD SYNNEX in the 4th quarter valued at approximately $148,559,000. Alyeska Investment Group L.P. purchased a new stake in shares of TD SYNNEX in the 3rd quarter valued at approximately $135,631,000. Bank of New York Mellon Corp acquired a new stake in shares of TD SYNNEX in the 2nd quarter valued at $149,728,000. Finally, AQR Capital Management LLC lifted its position in shares of 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 during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $262.21, for a total transaction of $1,311,050.00. Following the completion of the sale, the director owned 13,537 shares in the company, valued at approximately $3,549,536.77. This represents a 26.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. 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 value of $325,951.65. Following the transaction, the director directly owned 5,828 shares in the company, valued at approximately $1,492,259.40. This represents a 17.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,273 shares of company stock valued at $4,253,752 over the last ninety days. Corporate insiders own 0.70% of the company's stock.

TD SYNNEX Stock Down 0.1%

Shares of NYSE SNX opened at $253.62 on Monday. The business has a 50-day moving average price of $254.85 and a 200 day moving average price of $223.33. The stock has a market cap of $20.28 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 0.72 and a beta of 1.44. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. TD SYNNEX Corporation has a 52-week low of $142.22 and a 52-week 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 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 return on equity of 15.37% and a net margin of 1.63%.The firm's revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Equities research analysts forecast that TD SYNNEX Corporation will post 18.01 earnings per share for the current year.

TD SYNNEX Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently commented on SNX. Zacks Research downgraded shares of TD SYNNEX from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Barclays lifted their price target on TD SYNNEX from $237.00 to $278.00 and gave the stock an "equal weight" rating in a report on Thursday, July 2nd. Morgan Stanley raised 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. JPMorgan Chase & Co. raised TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price target for the company in a report on Wednesday, May 27th. Finally, UBS Group increased their price target 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. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $294.67.

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.

Want to see what other hedge funds are holding SNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TD SYNNEX Corporation (NYSE:SNX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source