TD SYNNEX Corporation $SNX Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS has reduced its stake in TD SYNNEX Corporation by 13.3%, now holding 15,600 shares worth $2,117,000.
• TD SYNNEX reported quarterly earnings of $2.74 EPS, missing estimates but achieving a revenue of $15.65 billion, exceeding expectations.
• Insiders sold approximately 2,930 shares of TD SYNNEX stock worth $430,163 in the last ninety days, highlighting ongoing trading activity among corporate executives.

KLP Kapitalforvaltning AS decreased its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,600 shares of the business services provider's stock after selling 2,400 shares during the quarter. KLP Kapitalforvaltning AS's holdings in TD SYNNEX were worth $2,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of 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 valued at $405,441,000 after acquiring an additional 564,473 shares during the last quarter. Ninety One UK Ltd boosted its holdings in shares of TD SYNNEX by 15.0% in the 2nd quarter. Ninety One UK Ltd now owns 2,949,709 shares of the business services provider's stock valued at $400,275,000 after acquiring an additional 384,518 shares during the last quarter. Abrams Bison Investments LLC boosted its holdings in shares of TD SYNNEX by 19.4% in the 1st quarter. Abrams Bison Investments LLC now owns 2,683,000 shares of the business services provider's stock valued at $278,925,000 after acquiring an additional 435,000 shares during the last quarter. LSV Asset Management boosted its holdings in shares of TD SYNNEX by 10.3% in the 1st quarter. LSV Asset Management now owns 1,891,769 shares of the business services provider's stock valued at $196,668,000 after acquiring an additional 175,922 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of TD SYNNEX in the 1st quarter valued at $121,259,000. Institutional investors and hedge funds own 84.00% of the company's stock.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $151.54 on Monday. The company's fifty day moving average price is $151.37 and its 200 day moving average price is $133.15. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $167.76. The company has a market capitalization of $12.34 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 1.17 and a beta of 1.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 1.20.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Thursday, September 25th. The business services provider reported $2.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.05 by ($0.31). The firm had revenue of $15.65 billion for the quarter, compared to analysts' expectations of $15.11 billion. TD SYNNEX had a return on equity of 12.13% and a net margin of 1.27%.The business's quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company posted $2.86 earnings per share. TD SYNNEX has set its Q4 2025 guidance at 3.450-3.950 EPS. On average, research analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 17th. TD SYNNEX's dividend payout ratio (DPR) is presently 19.09%.

Analyst Ratings Changes

Several research firms have recently commented on SNX. JPMorgan Chase & Co. upped their price objective on shares of TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of TD SYNNEX in a report on Wednesday, October 8th. Loop Capital upped their price objective on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a report on Monday, June 30th. Bank of America increased their price target on shares of TD SYNNEX from $170.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Finally, Barrington Research increased their price target on shares of TD SYNNEX from $156.00 to $182.00 and gave the stock an "outperform" rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $169.55.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 861 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $149.84, for a total transaction of $129,012.24. Following the transaction, the chief financial officer directly owned 49,777 shares of the company's stock, valued at $7,458,585.68. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alim Dhanji sold 1,257 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total transaction of $179,009.37. Following the transaction, the insider directly owned 10,984 shares in the company, valued at approximately $1,564,231.44. The trade was a 10.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,930 shares of company stock valued at $430,163 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.