TD SYNNEX Corporation $SNX Shares Sold by Lyrical Asset Management LP

Key Points

• Lyrical Asset Management LP reduced its stakes in TD SYNNEX by 1.4%, now holding approximately 1.27 million shares, accounting for 2.0% of its portfolio.
• TD SYNNEX reported earnings of $2.99 per share for the last quarter, surpassing expectations, with total revenue reaching $14.95 billion, an increase of 7.2% year-over-year.
• The company declared a quarterly dividend of $0.44, representing an annualized yield of 1.1%, with a payout ratio of 20.56%.

Lyrical Asset Management LP cut its position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,270,865 shares of the business services provider's stock after selling 17,498 shares during the period. TD SYNNEX makes up about 2.0% of Lyrical Asset Management LP's portfolio, making the stock its 23rd biggest holding. Lyrical Asset Management LP owned about 1.51% of TD SYNNEX worth $132,119,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of TD SYNNEX by 329.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock worth $25,000 after buying an additional 188 shares during the period. Bessemer Group Inc. increased its holdings in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after acquiring an additional 152 shares during the period. Versant Capital Management Inc increased its holdings in shares of TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after acquiring an additional 183 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of TD SYNNEX in the 1st quarter worth $44,000. Finally, State of Wyoming boosted its position in shares of TD SYNNEX by 51.9% in the 4th quarter. State of Wyoming now owns 594 shares of the business services provider's stock worth $70,000 after purchasing an additional 203 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Stock Performance

NYSE SNX traded down $0.5450 during trading hours on Tuesday, hitting $146.9850. The company had a trading volume of 99,682 shares, compared to its average volume of 797,489. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $153.70. The company has a market cap of $12.12 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.20 and a beta of 1.32. The business has a 50 day moving average of $139.44 and a 200-day moving average of $128.31.

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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the prior year, the firm posted $2.73 earnings per share. TD SYNNEX's revenue for the quarter was up 7.2% on a year-over-year basis. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. As a group, equities research analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. TD SYNNEX's payout ratio is 20.56%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday. Royal Bank Of Canada restated an "outperform" rating and issued a $145.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 25th. Barclays set a $140.00 price objective on TD SYNNEX in a research note on Tuesday, June 24th. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Finally, Loop Capital boosted their target price on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $149.30.

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 63,310 shares of TD SYNNEX stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $136.23, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alim Dhanji sold 1,257 shares of TD SYNNEX 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 owned 10,984 shares of the company's stock, valued at $1,564,231.44. This represents a 10.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,888 shares of company stock worth $9,115,025 over the last quarter. Insiders own 1.00% of the company's stock.

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.