TD SYNNEX Corporation $SNX Shares Sold by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P reduced its stake in TD SYNNEX Corporation by 5.8%, selling 2,948 shares and now holding 47,537 shares valued at approximately $4.94 million.
• A total of 84% of TD SYNNEX's stock is owned by institutional investors, reflecting significant interest from funds and pension systems.
• Analysts express optimism for TD SYNNEX, with an average price target of $149.30, and eight analysts providing a Buy rating.

Martingale Asset Management L P trimmed its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,537 shares of the business services provider's stock after selling 2,948 shares during the quarter. Martingale Asset Management L P owned approximately 0.06% of TD SYNNEX worth $4,942,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of TD SYNNEX by 329.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock worth $25,000 after buying an additional 188 shares in the last quarter. Versant Capital Management Inc raised its holdings in TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after acquiring an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in TD SYNNEX in the 1st quarter worth approximately $44,000. State of Wyoming boosted its holdings in shares of TD SYNNEX by 51.9% during the 4th quarter. State of Wyoming now owns 594 shares of the business services provider's stock worth $70,000 after purchasing an additional 203 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of TD SYNNEX by 16.8% in the first quarter. GAMMA Investing LLC now owns 750 shares of the business services provider's stock valued at $78,000 after purchasing an additional 108 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TD SYNNEX

In other news, CFO Marshall Witt sold 1,509 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the transaction, the chief financial officer owned 49,563 shares in the company, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann F. Vezina sold 812 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total transaction of $122,141.04. Following the sale, the director directly owned 6,079 shares of the company's stock, valued at approximately $914,403.18. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,888 shares of company stock valued at $9,115,025. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SNX has been the topic of a number of analyst reports. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Barclays set a $140.00 price objective on shares of TD SYNNEX in a research report on Tuesday, June 24th. Bank of America boosted their target price 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, Royal Bank Of Canada raised their price target on shares of TD SYNNEX from $145.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $151.30.

TD SYNNEX Stock Up 3.7%

Shares of TD SYNNEX stock traded up $5.4110 during trading hours on Friday, hitting $149.8510. The company had a trading volume of 565,053 shares, compared to its average volume of 536,418. The company's 50-day moving average is $141.12 and its two-hundred day moving average is $128.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $153.70. The company has a market cap of $12.36 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.22 and a beta of 1.32.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.28. The firm had revenue of $14.95 billion during the quarter, compared to analysts' expectations of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. TD SYNNEX's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.73 EPS. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. Analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. TD SYNNEX's payout ratio is currently 20.56%.

TD SYNNEX 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.