Comerica Bank Increases Position in TD SYNNEX Corporation $SNX

Key Points

• Comerica Bank increased its stake in TD SYNNEX Corporation by 13.7% in Q1, acquiring a total of 50,848 shares valued at approximately $5.3 million.
• TD SYNNEX reported an EPS of $2.99 for the latest quarter, exceeding analyst expectations, and the company anticipates 11.88 EPS for the current year.
• Several analysts raised their price targets for TD SYNNEX, with Royal Bank of Canada increasing its target from $145 to $165, indicating strong investor confidence in the stock's growth potential.

Comerica Bank raised its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,848 shares of the business services provider's stock after purchasing an additional 6,120 shares during the quarter. Comerica Bank owned approximately 0.06% of TD SYNNEX worth $5,286,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SNX. Ellevest Inc. raised its position in shares of TD SYNNEX by 3.9% during the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock worth $280,000 after acquiring an additional 90 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of TD SYNNEX by 1.6% during the first quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock worth $630,000 after acquiring an additional 94 shares during the last quarter. Utah Retirement Systems raised its position in shares of TD SYNNEX by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after acquiring an additional 100 shares during the last quarter. State of Michigan Retirement System raised its position in shares of TD SYNNEX by 0.6% during the first quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider's stock worth $1,873,000 after acquiring an additional 100 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of TD SYNNEX by 0.5% during the first quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the business services provider's stock worth $2,194,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Price Performance

NYSE:SNX traded down $1.37 during trading hours on Friday, reaching $148.20. 452,357 shares of the company were exchanged, compared to its average volume of 532,795. The company has a market capitalization of $12.22 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.21 and a beta of 1.35. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $153.70. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. The business has a 50 day moving average of $143.50 and a 200 day moving average of $128.67.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results 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 firm 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 business posted $2.73 EPS. The company's 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. Research analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders 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 annualized dividend and a dividend yield of 1.2%. TD SYNNEX's dividend payout ratio (DPR) is currently 20.56%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 63,310 shares of TD SYNNEX stock in a transaction dated 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 owned 67,515 shares in the company, valued at approximately $9,197,568.45. The trade was a 48.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the insider owned 10,984 shares in the company, valued at $1,564,231.44. The trade was a 10.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,888 shares of company stock valued at $9,115,025. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SNX shares. Morgan Stanley set a $155.00 price objective on TD SYNNEX and gave the company an "overweight" rating in a report on Wednesday, June 25th. Bank of America upped their price objective on TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Loop Capital boosted their target price on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Finally, Barrington Research reissued an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday, July 11th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $151.30.

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.