Legal & General Group Plc acquired a new position in TD SYNNEX Corporation (NYSE:SNX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 114,739 shares of the business services provider's stock, valued at approximately $30,674,000. Legal & General Group Plc owned 0.14% of TD SYNNEX as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNX. BlackRock Inc. acquired a new position in shares of TD SYNNEX during the second quarter worth approximately $1,958,683,000. Norges Bank acquired a new position in TD SYNNEX during the 4th quarter valued at $148,559,000. Alyeska Investment Group L.P. bought a new stake in TD SYNNEX in the 3rd quarter valued at $135,631,000. Bank of New York Mellon Corp acquired a new stake in TD SYNNEX in the 2nd quarter worth $149,728,000. Finally, AQR Capital Management LLC increased its holdings 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 period. Institutional investors and hedge funds own 84.00% of the company's stock.
Analyst Upgrades and Downgrades
SNX has been the subject of a number of recent research reports. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a research note on Friday, June 26th. Weiss Ratings cut shares of TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 17th. Barrington Research lifted their price objective on TD SYNNEX from $202.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 26th. Morgan Stanley increased their target price on TD SYNNEX from $341.00 to $374.00 and gave the stock an "overweight" rating in a report on Friday, June 26th. Finally, UBS Group increased their price objective 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. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $294.67.
Read Our Latest Research Report on TD SYNNEX
Insider Buying and Selling at TD SYNNEX
In related news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Monday, July 6th. The stock was sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $256.05, for a total value of $325,951.65. Following the completion of the transaction, the director directly owned 5,828 shares in the company, valued at $1,492,259.40. The trade was a 17.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,273 shares of company stock worth $4,253,752 over the last 90 days. 0.70% of the stock is owned by corporate insiders.
TD SYNNEX Price Performance
Shares of SNX stock opened at $253.62 on Friday. 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 12 month low of $142.22 and a 12 month high of $296.47. The firm has a market cap of $20.28 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 0.73 and a beta of 1.44. The stock has a 50-day moving average price of $254.85 and a 200 day moving average price of $222.97.
TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, topping 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Research analysts expect that TD SYNNEX Corporation will post 18.01 EPS for the current year.
TD SYNNEX Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. TD SYNNEX's dividend payout ratio is 13.74%.
About TD SYNNEX
(
Free Report)
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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