TD SYNNEX Corporation $SNX Shares Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its TD SYNNEX stake by 20.5% in the first quarter, adding 14,343 shares to own 84,220 shares valued at approximately $14.2 million. Institutional investors collectively hold 84% of the company.
• Analysts remain broadly positive, with one Strong Buy, eight Buy and one Hold rating; the consensus rating is Buy with a $294.67 price target. Recent targets range from $278 to $374.
• TD SYNNEX reported strong quarterly results, with $4.85 adjusted EPS beating estimates of $4.14 and revenue rising 31% year over year to $19.57 billion. The company also reaffirmed quarterly dividend payments of $0.48 per share, representing a 0.8% annualized yield.

California State Teachers Retirement System raised its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 20.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,220 shares of the business services provider's stock after purchasing an additional 14,343 shares during the quarter. California State Teachers Retirement System owned 0.10% of TD SYNNEX worth $14,209,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Intech Investment Management LLC increased its holdings in TD SYNNEX by 38.4% in the 4th quarter. Intech Investment Management LLC now owns 21,578 shares of the business services provider's stock valued at $3,242,000 after purchasing an additional 5,982 shares during the last quarter. CWM LLC lifted its stake in TD SYNNEX by 474.0% during the fourth quarter. CWM LLC now owns 7,095 shares of the business services provider's stock worth $1,066,000 after purchasing an additional 5,859 shares in the last quarter. R Squared Ltd purchased a new position in shares of TD SYNNEX during the fourth quarter worth $1,507,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of TD SYNNEX by 44.6% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 67,521 shares of the business services provider's stock worth $10,186,000 after buying an additional 20,815 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of TD SYNNEX by 138.6% in the fourth quarter. Teacher Retirement System of Texas now owns 59,168 shares of the business services provider's stock valued at $8,889,000 after buying an additional 34,374 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays boosted their price objective on TD SYNNEX from $237.00 to $278.00 and gave the company an "equal weight" rating in a report on Thursday, July 2nd. UBS Group lifted their target price on TD SYNNEX from $310.00 to $352.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Royal Bank Of Canada set a $340.00 price target on shares of TD SYNNEX in a research note on Friday, June 26th. JPMorgan Chase & Co. raised shares of TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price target on the stock in a research report on Wednesday, May 27th. Finally, Morgan Stanley raised their price objective on shares of TD SYNNEX from $341.00 to $374.00 and gave the company an "overweight" rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $294.67.

TD SYNNEX Stock Up 0.1%

Shares of NYSE SNX opened at $255.93 on Monday. The stock has a market cap of $20.46 billion, a P/E ratio of 18.32, a PEG ratio of 0.72 and a beta of 1.44. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. TD SYNNEX Corporation has a 12-month low of $139.23 and a 12-month high of $296.47. The business's fifty day simple moving average is $260.60 and its 200-day simple moving average is $209.49.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.71. The company had revenue of $19.57 billion for the quarter, compared to the consensus estimate of $16.80 billion. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.TD SYNNEX's revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, equities analysts predict that TD SYNNEX Corporation will post 18.01 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.92 annualized dividend and a yield of 0.8%. TD SYNNEX's dividend payout ratio (DPR) is 13.74%.

Insider Activity at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Monday, July 6th. The shares were sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the completion of the sale, the director directly owned 18,537 shares of the company's stock, valued at approximately $4,503,934.89. The trade was a 21.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the transaction, the director owned 5,828 shares of the company's stock, valued at approximately $1,492,259.40. The trade was a 17.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 21,273 shares of company stock worth $5,259,652. 0.70% of the stock is owned by corporate insiders.

TD SYNNEX Profile

TD SYNNEX NYSE: SNX is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company's core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.

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