Russell Investments Group Ltd. Acquires 29,278 Shares of TD SYNNEX Corporation $SNX

Key Points

• Russell Investments Group Ltd. significantly increased its stake in TD SYNNEX Corporation by acquiring an additional 29,278 shares, raising its holdings by 84.3% during the first quarter.
• TD SYNNEX Corporation reported a strong quarterly performance with earnings per share of $2.99, surpassing analysts' expectations, and a revenue of $14.95 billion, which was higher than the $14.30 billion consensus estimate.
• The company recently declared a quarterly dividend of $0.44, representing an annualized yield of 1.2%, with a payout ratio of 20.56% of earnings.

Russell Investments Group Ltd. raised its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 84.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,012 shares of the business services provider's stock after acquiring an additional 29,278 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.08% of TD SYNNEX worth $6,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. HighTower Advisors LLC grew its position in shares of TD SYNNEX by 1.1% during the 1st quarter. HighTower Advisors LLC now owns 109,127 shares of the business services provider's stock worth $11,345,000 after buying an additional 1,170 shares in the last quarter. Public Sector Pension Investment Board bought a new position in shares of TD SYNNEX during the 1st quarter worth $2,893,000. AIA Group Ltd grew its position in shares of TD SYNNEX by 25.9% during the 1st quarter. AIA Group Ltd now owns 9,923 shares of the business services provider's stock worth $1,032,000 after buying an additional 2,041 shares in the last quarter. Nuveen LLC bought a new position in shares of TD SYNNEX during the 1st quarter worth $121,259,000. Finally, Invesco Ltd. grew its position in shares of TD SYNNEX by 42.7% during the 1st quarter. Invesco Ltd. now owns 788,182 shares of the business services provider's stock worth $81,939,000 after buying an additional 235,753 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Price Performance

Shares of SNX stock opened at $145.2640 on Thursday. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $153.70. The stock's 50-day moving average is $140.21 and its 200 day moving average is $128.55. The company has a market cap of $11.98 billion, a P/E ratio of 16.97, a PEG ratio of 1.19 and a beta of 1.32. 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 (NYSE:SNX - Get Free Report) last issued 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. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%.The company had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter last year, the company earned $2.73 earnings per share. The firm's revenue for the quarter 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. Research analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

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

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 63,310 shares of the stock in a transaction dated 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 sale, the director directly owned 67,515 shares in the company, valued at approximately $9,197,568.45. This trade represents a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alim Dhanji sold 1,257 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the completion of the sale, the insider owned 10,984 shares of the company's stock, valued at approximately $1,564,231.44. This trade represents a 10.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,888 shares of company stock valued at $9,115,025. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SNX. Barclays set a $140.00 price target on TD SYNNEX in a research report on Tuesday, June 24th. Barrington Research reissued an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Friday, July 11th. JPMorgan Chase & Co. increased their price target on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Royal Bank Of Canada reissued an "outperform" rating and set a $145.00 price target on shares of TD SYNNEX in a research report on Wednesday, June 25th. Finally, Loop Capital raised their price objective on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $149.30.

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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