TD SYNNEX Corporation $SNX Shares Purchased by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its stake in TD SYNNEX Corporation by 6.9%, now owning approximately $19.66 million worth of shares.
• Research analysts have raised their price targets for TD SYNNEX, with Loop Capital setting a new target of $160.00, reflecting a bullish outlook on the company's performance.
• TD SYNNEX recently declared a quarterly dividend of $0.44, with a dividend yield of 1.2% and a payout ratio of 20.56%.

Panagora Asset Management Inc. grew its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,150 shares of the business services provider's stock after purchasing an additional 12,156 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.23% of TD SYNNEX worth $19,664,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Marshall Wace LLP lifted its stake in shares of TD SYNNEX by 29.0% in the fourth quarter. Marshall Wace LLP now owns 3,224 shares of the business services provider's stock worth $378,000 after buying an additional 724 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of TD SYNNEX by 44.0% in the fourth quarter. Stifel Financial Corp now owns 24,788 shares of the business services provider's stock worth $2,907,000 after buying an additional 7,580 shares in the last quarter. Northern Trust Corp lifted its stake in shares of TD SYNNEX by 21.9% in the fourth quarter. Northern Trust Corp now owns 649,981 shares of the business services provider's stock worth $76,230,000 after buying an additional 116,571 shares in the last quarter. Utah Retirement Systems lifted its stake in shares of TD SYNNEX by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after buying an additional 100 shares in the last quarter. Finally, Comerica Bank lifted its stake in shares of TD SYNNEX by 6.7% in the fourth quarter. Comerica Bank now owns 44,728 shares of the business services provider's stock worth $5,246,000 after buying an additional 2,828 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Activity at TD SYNNEX

In related news, CFO Marshall Witt sold 1,509 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the sale, the chief financial officer owned 49,563 shares in the company, valued at $6,212,722.05. This represents a 2.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann F. Vezina sold 812 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total transaction of $122,141.04. Following the sale, the director 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. Over the last 90 days, insiders sold 66,888 shares of company stock valued at $9,115,025. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

SNX has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their target price on shares of TD SYNNEX from $145.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. Bank of America lifted their target price on shares of TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Barrington Research reissued an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday, July 11th. Finally, 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 note on Thursday, July 17th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus price target of $151.30.

TD SYNNEX Stock Up 0.7%

NYSE SNX traded up $0.98 on Thursday, hitting $148.97. 360,797 shares of the stock were exchanged, compared to its average volume of 777,700. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $153.70. The company has a 50-day moving average price of $144.31 and a 200-day moving average price of $128.95. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The company has a market cap of $12.29 billion, a PE ratio of 17.40, a PEG ratio of 1.21 and a beta of 1.35.

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

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX's dividend payout ratio (DPR) is 20.56%.

TD SYNNEX Company 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.