TD SYNNEX Corporation $SNX Shares Sold by EULAV Asset Management

Key Points

• EULAV Asset Management cut its TD SYNNEX stake by 21.9% in the third quarter, selling 11,810 shares and retaining 42,104 shares valued at approximately $10.8 million. Institutional investors collectively own 84% of the company.
• Analyst sentiment remains positive, with TD SYNNEX carrying a consensus “Buy” rating and an average price target of $331.14. Recent upgrades included UBS raising its target to $379 and Morgan Stanley to $359.
• TD SYNNEX exceeded quarterly expectations, reporting $5.68 in adjusted EPS and $21.56 billion in revenue, up 37.7% year over year. The company also declared a quarterly dividend of $0.48 per share, representing a 0.8% annualized yield.

EULAV Asset Management decreased its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 21.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,104 shares of the business services provider's stock after selling 11,810 shares during the period. EULAV Asset Management owned approximately 0.05% of TD SYNNEX worth $10,814,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in TD SYNNEX during the 2nd quarter worth $1,958,683,000. Ninety One UK Ltd lifted 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 worth $465,104,000 after acquiring an additional 162,116 shares in the last quarter. Metropolis Capital Ltd lifted its holdings in TD SYNNEX by 9.5% during the first quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider's stock worth $216,169,000 after acquiring an additional 111,222 shares in the last quarter. Bank of New York Mellon Corp bought a new position in TD SYNNEX during the second quarter worth about $149,728,000. Finally, Principal Financial Group Inc. grew its stake 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 valued at $115,406,000 after acquiring an additional 51,303 shares during the period. Institutional investors own 84.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SNX shares. Barclays increased their price target on TD SYNNEX from $278.00 to $287.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 8th. Zacks Research raised TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 29th. Weiss Ratings cut TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday. UBS Group boosted their price objective on TD SYNNEX from $352.00 to $379.00 and gave the company a "buy" rating in a research report on Friday, September 25th. Finally, Morgan Stanley boosted their price objective on TD SYNNEX from $334.00 to $359.00 and gave the company an "overweight" rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, TD SYNNEX has a consensus rating of "Buy" and an average price target of $331.14.

TD SYNNEX Trading Up 0.0%

NYSE:SNX opened at $247.35 on Monday. TD SYNNEX Corporation has a twelve month low of $142.22 and a twelve month high of $298.77. 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 business has a 50 day moving average price of $261.40 and a two-hundred day moving average price of $251.91. The company has a market cap of $19.73 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 0.49 and a beta of 1.37.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Thursday, September 24th. The business services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.98. TD SYNNEX had a net margin of 1.75% and a return on equity of 16.78%. The company had revenue of $21.56 billion during the quarter, compared to analysts' expectations of $18.91 billion. During the same period last year, the business earned $3.58 EPS. The business's quarterly revenue was up 37.7% on a year-over-year basis. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. As a group, analysts expect that TD SYNNEX Corporation will post 20.35 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. TD SYNNEX's dividend payout ratio (DPR) is 11.70%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Richard Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $262.21, for a total value of $1,311,050.00. Following the sale, the director directly owned 13,537 shares in the company, valued at approximately $3,549,536.77. The trade was a 26.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann Vezina sold 1,273 shares of TD SYNNEX stock in a transaction on Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the completion of the sale, the director owned 5,828 shares in the company, valued at $1,492,259.40. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 10,048 shares of company stock valued at $2,546,814. Corporate insiders own 0.70% of the company's stock.

TD SYNNEX Company 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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