VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.21 Million in TD SYNNEX Corporation $SNX

Key Points

• Virginia Retirement Systems purchased 12,000 TD SYNNEX shares valued at approximately $3.21 million, while institutional investors collectively own 84% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and two Holds; the stock has an average price target of $295.67, implying potential upside from its $255.94 opening price.
• TD SYNNEX reported quarterly EPS of $4.85, beating expectations of $4.14, while revenue rose 31% year over year to $19.57 billion. The company also pays a quarterly dividend of $0.48, yielding approximately 0.8%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 12,000 shares of the business services provider's stock, valued at approximately $3,208,000.

Several other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System lifted its stake in TD SYNNEX by 27,034.6% during the second quarter. California State Teachers Retirement System now owns 22,852,758 shares of the business services provider's stock worth $6,109,456,000 after purchasing an additional 22,768,538 shares during the last quarter. BlackRock Inc. bought a new position in shares of TD SYNNEX in the 2nd quarter valued at $1,958,683,000. State Street Corp raised its holdings in shares of TD SYNNEX by 0.4% during the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider's stock worth $388,535,000 after buying an additional 9,024 shares in the last quarter. LSV Asset Management raised its holdings in shares of TD SYNNEX by 16.1% during the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider's stock worth $313,471,000 after buying an additional 288,625 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of TD SYNNEX by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider's stock worth $230,315,000 after buying an additional 99,090 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on SNX. The Goldman Sachs Group set a $330.00 price objective on TD SYNNEX in a research note on Friday, June 26th. Weiss Ratings downgraded TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 17th. Zacks Research cut shares of TD SYNNEX from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Barrington Research raised their price target on shares of TD SYNNEX from $202.00 to $325.00 and gave the company an "outperform" rating in a research note on Friday, June 26th. Finally, 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 report on Wednesday, May 27th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $295.67.

Insider Buying and Selling

In related news, Director Richard Hume sold 5,000 shares of TD SYNNEX stock in a transaction that occurred 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 sale, the director directly owned 18,537 shares in the company, valued at $4,503,934.89. This trade represents a 21.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann Vezina sold 1,273 shares of the business's stock in a transaction that occurred 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 sale, the director directly 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. In the last quarter, insiders sold 11,273 shares of company stock valued at $2,851,852. 0.70% of the stock is owned by company insiders.

TD SYNNEX Trading Down 0.9%

Shares of SNX stock opened at $255.94 on Friday. TD SYNNEX Corporation has a twelve month low of $142.22 and a twelve month high of $296.47. The stock's fifty day simple moving average is $252.36 and its 200 day simple moving average is $229.33. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $20.46 billion, a P/E ratio of 18.32, a P/E/G ratio of 0.73 and a beta of 1.43.

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

TD SYNNEX Announces Dividend

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

TD SYNNEX Company Profile

TD SYNNEX Corporation NYSE: SNX is a global technology distributor and solutions aggregator that connects technology manufacturers with resellers, systems integrators, managed service providers and other business partners. The company helps its partners design, procure, configure and deliver technology solutions to organizations across a range of industries.

Its portfolio includes personal computing devices, peripherals, networking equipment, data-center infrastructure, cybersecurity products, software and cloud services.

Want to see what other hedge funds are holding SNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TD SYNNEX Corporation (NYSE:SNX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.