TD SYNNEX Corporation $SNX Shares Acquired by Metropolis Capital Ltd

Key Points

• Metropolis Capital increased its TD SYNNEX stake by 44.6% in the third quarter, acquiring 161,902 additional shares for a total of 524,865 shares worth approximately $134.8 million. Institutional investors own about 84% of the company.
• TD SYNNEX reported strong quarterly results, with EPS of $5.68 versus the $4.70 analyst consensus and revenue of $21.56 billion, up 37.7% year over year. The company issued fourth-quarter EPS guidance of $5.65 to $6.15.
• Analysts remain broadly positive, with an average “Buy” rating and a consensus price target of $331.14, while TD SYNNEX declared a quarterly dividend of $0.48 per share, representing a 0.8% annualized yield.

Metropolis Capital Ltd raised its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 44.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 524,865 shares of the business services provider's stock after acquiring an additional 161,902 shares during the quarter. TD SYNNEX makes up 3.7% of Metropolis Capital Ltd's holdings, making the stock its 12th biggest position. Metropolis Capital Ltd owned approximately 0.66% of TD SYNNEX worth $134,812,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of TD SYNNEX in the 2nd quarter worth approximately $1,958,683,000. Ninety One UK Ltd grew its holdings in TD SYNNEX by 9.8% during the third quarter. Ninety One UK Ltd now owns 1,810,800 shares of the business services provider's stock valued at $465,104,000 after purchasing an additional 162,116 shares during the period. Bank of New York Mellon Corp bought a new position in TD SYNNEX during the second quarter valued at $149,728,000. Principal Financial Group Inc. increased its position in TD SYNNEX by 8.1% in the first quarter. Principal Financial Group Inc. now owns 684,004 shares of the business services provider's stock worth $115,406,000 after buying an additional 51,303 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in TD SYNNEX in the second quarter worth $113,155,000. 84.00% of the stock is owned by institutional investors.

Insider Activity

In other TD SYNNEX news, Director Ann F. Vezina sold 1,273 shares of the company's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $256.05, for a total value of $325,951.65. Following the transaction, the director directly owned 5,828 shares in the company, valued at $1,492,259.40. This represents a 17.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $262.21, for a total transaction of $1,311,050.00. Following the completion of the sale, the director directly owned 13,537 shares in the company, valued at $3,549,536.77. This represents a 26.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.70% of the company's stock.

TD SYNNEX Stock Performance

SNX traded up $1.61 on Tuesday, hitting $250.18. The company's stock had a trading volume of 196,672 shares, compared to its average volume of 815,901. TD SYNNEX Corporation has a 12 month low of $142.22 and a 12 month high of $298.77. The firm has a market cap of $19.96 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 0.49 and a beta of 1.37. The company has a quick ratio of 0.64, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. The company's 50 day simple moving average is $261.98 and its 200-day simple moving average is $250.21.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Thursday, September 24th. The business services provider reported $5.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.70 by $0.98. TD SYNNEX had a net margin of 1.75% and a return on equity of 16.78%. The business had revenue of $21.56 billion for the quarter, compared to analysts' expectations of $18.91 billion. During the same quarter in the previous year, the firm posted $3.58 EPS. The business's revenue for the quarter was up 37.7% compared to the same quarter last year. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. Analysts forecast that TD SYNNEX Corporation will post 20.35 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 16th. TD SYNNEX's payout ratio is presently 11.70%.

Wall Street Analysts Forecast Growth

SNX has been the topic of several research reports. Zacks Research upgraded TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 29th. UBS Group increased their price target on TD SYNNEX from $352.00 to $379.00 and gave the stock a "buy" rating in a research note on Friday, September 25th. Royal Bank Of Canada set a $340.00 price objective on TD SYNNEX in a report on Friday, June 26th. Morgan Stanley lifted their price objective on TD SYNNEX from $334.00 to $359.00 and gave the stock an "overweight" rating in a report on Friday, September 25th. Finally, Weiss Ratings upgraded TD SYNNEX from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $331.14.

TD SYNNEX Profile

TD SYNNEX Corporation NYSE: SNX is a global technology distributor and solutions aggregator. The company connects technology vendors with resellers, systems integrators, managed service providers, retailers and other channel partners, helping them market, sell, deploy and support technology products and services.

Its offerings include personal computing and endpoint devices, servers, data-center and networking equipment, software, cloud solutions, cybersecurity products, and related professional and managed services.

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