TD SYNNEX Corporation $SNX Stake Boosted by Abrams Bison Investments LLC

Key Points

• Abrams Bison Investments LLC increased its stake in TD SYNNEX Corporation by 19.4% in Q1, making it their largest holding with approximately $278.9 million worth of shares.
• Insider transactions revealed that Director Ann F. Vezina sold 812 shares, while CFO Marshall Witt sold 1,509 shares, collectively indicating a decrease in their stock positions.
• Analysts have upgraded TD SYNNEX's rating, with a consensus target price of $151.30, reflecting a positive outlook and a potential for growth in the stock price.

Abrams Bison Investments LLC boosted its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 19.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,683,000 shares of the business services provider's stock after acquiring an additional 435,000 shares during the quarter. TD SYNNEX accounts for about 30.4% of Abrams Bison Investments LLC's investment portfolio, making the stock its largest position. Abrams Bison Investments LLC owned 3.20% of TD SYNNEX worth $278,925,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNX. Nuveen LLC bought a new position in TD SYNNEX in the 1st quarter worth about $121,259,000. Nuveen Asset Management LLC increased its stake in TD SYNNEX by 343.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock worth $141,913,000 after acquiring an additional 937,040 shares during the last quarter. JPMorgan Chase & Co. increased its stake in TD SYNNEX by 16.9% in the 1st quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider's stock worth $405,441,000 after acquiring an additional 564,473 shares during the last quarter. Boston Partners increased its stake in TD SYNNEX by 321.6% in the 1st quarter. Boston Partners now owns 591,958 shares of the business services provider's stock worth $61,547,000 after acquiring an additional 451,567 shares during the last quarter. Finally, Brave Warrior Advisors LLC increased its stake in TD SYNNEX by 12.2% in the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock worth $486,380,000 after acquiring an additional 451,557 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Up 0.7%

Shares of NYSE:SNX traded up $1.09 during trading on Thursday, hitting $149.08. The stock had a trading volume of 625,711 shares, compared to its average volume of 779,380. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $153.70. The company has a market capitalization of $12.29 billion, a PE ratio of 17.42, a PEG ratio of 1.21 and a beta of 1.35. The firm's fifty day moving average is $144.31 and its 200 day moving average is $128.95. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the prior year, the company earned $2.73 EPS. The business'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. Analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors 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 is presently 20.56%.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 1,509 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the sale, the chief financial officer owned 49,563 shares in the company, valued at $6,212,722.05. This represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alim Dhanji sold 1,257 shares of the company'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 sale, 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. Over the last quarter, insiders have sold 66,888 shares of company stock worth $9,115,025. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SNX has been the subject of a number of research reports. Barclays set a $140.00 price objective on TD SYNNEX in a report on Tuesday, June 24th. Morgan Stanley set a $155.00 price objective on TD SYNNEX and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. JPMorgan Chase & Co. upped their price objective on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Barrington Research reiterated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Friday, July 11th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus price target of $151.30.

TD SYNNEX 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.