Oliver Luxxe Assets LLC Buys Shares of 21,426 TD SYNNEX Corporation $SNX

Key Points

• Oliver Luxxe Assets bought 21,426 TD SYNNEX shares valued at approximately $5.7 million, while institutional investors and hedge funds collectively own 84% of the stock.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $294.67; several firms recently raised their targets following strong quarterly results.
• TD SYNNEX exceeded earnings and revenue expectations, reporting $4.85 EPS and $19.57 billion in revenue, up 31% year over year. The company also declared a quarterly dividend of $0.48 per share, while insiders sold $5.4 million of stock over the past 90 days.

Oliver Luxxe Assets LLC bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,426 shares of the business services provider's stock, valued at approximately $5,728,000.

Other hedge funds also recently made changes to their positions in the company. Ossiam increased its position in TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider's stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in TD SYNNEX in the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC acquired a new stake in TD SYNNEX in the third quarter valued at approximately $30,000. Lloyd Advisory Services LLC. bought a new stake in shares of TD SYNNEX during the fourth quarter worth $32,000. Finally, SJS Investment Consulting Inc. grew its stake in shares of TD SYNNEX by 44.6% during the first quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider's stock worth $34,000 after buying an additional 62 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SNX shares. Morgan Stanley raised their price objective on TD SYNNEX from $341.00 to $374.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Barrington Research increased their target price on TD SYNNEX from $202.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, June 26th. The Goldman Sachs Group set a $330.00 price objective on TD SYNNEX in a research note on Friday, June 26th. UBS Group lifted their price target 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. Finally, Weiss Ratings lowered shares of TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $294.67.

Insiders Place Their Bets

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 transaction, the director owned 13,537 shares of the company's stock, valued at $3,549,536.77. This represents a 26.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $256.05, for a total value of $325,951.65. Following the completion of the sale, the director owned 5,828 shares of the company's stock, valued at approximately $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,273 shares of company stock valued at $5,401,452 over the last 90 days. Corporate insiders own 0.70% of the company's stock.

TD SYNNEX Stock Down 2.6%

Shares of TD SYNNEX stock opened at $252.56 on Friday. The stock's 50-day moving average is $261.80 and its 200 day moving average is $212.82. TD SYNNEX Corporation has a one year low of $142.22 and a one year high of $296.47. The firm has a market cap of $20.19 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 0.71 and a beta of 1.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 0.64.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $0.71. The firm had revenue of $19.57 billion for the quarter, compared to analyst estimates of $16.80 billion. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The company's revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Equities research analysts anticipate that TD SYNNEX Corporation will post 18.01 EPS for the current year.

TD SYNNEX Dividend Announcement

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

About TD SYNNEX

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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