Meeder Asset Management Inc. Invests $12.22 Million in TD SYNNEX Corporation $SNX

Key Points

• Meeder Asset Management initiated a $12.22 million position in TD SYNNEX, purchasing 45,712 shares during the second quarter. Institutional investors collectively own approximately 84% of the company.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $294.67; several firms recently raised their targets to between $325 and $352.
• TD SYNNEX exceeded quarterly expectations, reporting $4.85 in EPS on $19.57 billion in revenue, up 31% year over year. The company also pays a quarterly dividend of $0.48 per share, representing a 0.7% annualized yield.

Meeder Asset Management Inc. bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,712 shares of the business services provider's stock, valued at approximately $12,221,000. Meeder Asset Management Inc. owned about 0.06% of TD SYNNEX as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of SNX. Citizens Financial Group Inc. RI purchased a new stake in TD SYNNEX in the 2nd quarter worth $535,000. BlackRock Inc. purchased a new position in shares of TD SYNNEX during the second quarter valued at about $1,958,683,000. Pallas Capital Advisors LLC purchased a new position in shares of TD SYNNEX during the second quarter valued at about $480,000. Deutsche Bank AG bought a new stake in shares of TD SYNNEX in the second quarter worth about $7,146,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of TD SYNNEX in the second quarter worth about $65,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TD SYNNEX

In other news, Director Ann F. Vezina sold 1,273 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $256.05, for a total value of $325,951.65. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total value of $1,311,050.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 16,273 shares of company stock worth $4,253,752. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SNX. Barrington Research raised their price target on TD SYNNEX from $202.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 26th. Zacks Research upgraded shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 30th. Royal Bank Of Canada set a $340.00 price target on shares of TD SYNNEX in a research note on Friday, June 26th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a research note on Friday, June 26th. Finally, UBS Group boosted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, TD SYNNEX has a consensus rating of "Buy" and an average price target of $294.67.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $264.39 on Tuesday. The firm has a 50-day moving average price of $259.67 and a 200-day moving average price of $217.66. The firm has a market capitalization of $21.14 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 0.73 and a beta of 1.44. 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 released its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, topping analysts' consensus estimates of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The firm had revenue of $19.57 billion during the quarter, compared to analysts' expectations of $16.80 billion. During the same period in the previous year, the company earned $2.99 EPS. The firm's revenue for the quarter 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. As a group, equities research analysts forecast that TD SYNNEX Corporation will post 18.01 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were paid a dividend of $0.48 per share. 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 0.7%. TD SYNNEX's dividend payout ratio is currently 13.74%.

TD SYNNEX 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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