Raymond James Financial Inc. Acquires 8,683 Shares of TD SYNNEX Corporation $SNX

Key Points

• Raymond James Financial Inc. increased its stake in TD SYNNEX Corporation by 2.2%, now holding 410,236 shares valued at approximately $42.65 million.
• Analysts maintain a positive outlook for TD SYNNEX, with several firms upgrading their ratings and price targets, including an increase by Royal Bank of Canada to $165.
• TD SYNNEX recently reported quarterly earnings of $2.99 per share, exceeding expectations, with a revenue of $14.95 billion, marking a 7.2% year-over-year increase.

Raymond James Financial Inc. boosted its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 410,236 shares of the business services provider's stock after purchasing an additional 8,683 shares during the quarter. Raymond James Financial Inc. owned about 0.49% of TD SYNNEX worth $42,648,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SNX. Mariner LLC boosted its stake in TD SYNNEX by 8.5% during the 4th quarter. Mariner LLC now owns 4,348 shares of the business services provider's stock valued at $510,000 after purchasing an additional 342 shares during the period. Guggenheim Capital LLC boosted its stake in TD SYNNEX by 5.5% during the 4th quarter. Guggenheim Capital LLC now owns 3,227 shares of the business services provider's stock valued at $378,000 after purchasing an additional 167 shares during the period. Marshall Wace LLP boosted its stake in TD SYNNEX by 29.0% during the 4th quarter. Marshall Wace LLP now owns 3,224 shares of the business services provider's stock valued at $378,000 after purchasing an additional 724 shares during the period. Canada Pension Plan Investment Board bought a new stake in TD SYNNEX during the 4th quarter valued at approximately $281,000. Finally, MetLife Investment Management LLC boosted its stake in TD SYNNEX by 8.6% during the 4th quarter. MetLife Investment Management LLC now owns 42,682 shares of the business services provider's stock valued at $5,006,000 after purchasing an additional 3,383 shares during the period. Institutional investors own 84.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SNX shares. Barrington Research restated an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a research note on Friday, July 11th. Royal Bank Of Canada boosted their price target on TD SYNNEX from $145.00 to $165.00 and gave the company an "outperform" rating in a research note on Friday. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Morgan Stanley set a $155.00 price target on TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Finally, Bank of America boosted their price target on TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, TD SYNNEX currently has an average rating of "Moderate Buy" and an average price target of $151.30.

TD SYNNEX Stock Up 3.7%

NYSE SNX opened at $149.8510 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The stock's 50 day moving average is $141.12 and its two-hundred day moving average is $128.66. The company has a market capitalization of $12.36 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.18 and a beta of 1.32. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $153.70.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. The company had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%.The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.73 earnings per share. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. Equities analysts forecast 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. Shareholders of record on Friday, July 11th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX's payout ratio is presently 20.56%.

Insider Activity

In other news, insider Alim Dhanji sold 1,257 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total value of $179,009.37. Following the transaction, the insider directly owned 10,984 shares of the company's stock, valued at $1,564,231.44. The trade was a 10.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 63,310 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $136.23, for a total value of $8,624,721.30. Following the completion of the transaction, the director directly owned 67,515 shares in the company, valued at $9,197,568.45. The trade was a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,888 shares of company stock worth $9,115,025. 1.00% of the stock is currently owned by insiders.

About TD SYNNEX

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.

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