Wellington Management Group LLP Trims Stock Position in TD SYNNEX Corporation $SNX

Key Points

• Wellington Management reduced its TD SYNNEX stake by 17.6% in the second quarter, selling 155,113 shares and retaining 726,605 shares worth approximately $194.3 million. Institutional investors collectively own about 84% of SNX.
• Analysts remain broadly positive, with eight Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $294.67.
• TD SYNNEX exceeded quarterly expectations, reporting $4.85 in earnings per share versus a $4.14 estimate and $19.57 billion in revenue, up 31% year over year. The company also maintained a quarterly dividend of $0.48 per share, yielding about 0.8%.

Wellington Management Group LLP cut its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 17.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 726,605 shares of the business services provider's stock after selling 155,113 shares during the period. Wellington Management Group LLP owned 0.91% of TD SYNNEX worth $194,251,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SNX. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in TD SYNNEX in the second quarter valued at $10,907,000. Empowered Funds LLC purchased a new position in shares of TD SYNNEX during the 2nd quarter worth $29,589,000. United Capital Financial Advisors LLC acquired a new stake in shares of TD SYNNEX during the 2nd quarter worth about $465,000. FSA Advisors Inc. acquired a new stake in shares of TD SYNNEX during the 2nd quarter worth about $369,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in TD SYNNEX in the 2nd quarter valued at about $6,698,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on SNX shares. Barclays increased their target price on shares of TD SYNNEX from $237.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 2nd. Weiss Ratings lowered shares of TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 17th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a research report on Friday, June 26th. Barrington Research lifted their target price on shares of TD SYNNEX from $202.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. raised TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 target price on the stock in a research report on Wednesday, May 27th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $294.67.

Insider Buying and Selling at TD SYNNEX

In related news, Director Ann F. Vezina sold 1,273 shares of TD SYNNEX stock in a transaction on Friday, July 31st. The stock was sold at an average price of $256.05, for a total value of $325,951.65. Following the completion of the transaction, the director directly owned 5,828 shares in the company, valued at approximately $1,492,259.40. This trade represents a 17.93% 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, Director Richard T. Hume sold 5,000 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total value of $1,311,050.00. Following the sale, the director owned 13,537 shares in the company, valued at approximately $3,549,536.77. This trade represents a 26.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 11,273 shares of company stock worth $2,851,852. Insiders own 0.70% of the company's stock.

TD SYNNEX Stock Down 0.5%

Shares of SNX opened at $252.67 on Tuesday. The company's 50-day simple moving average is $254.24 and its 200-day simple moving average is $223.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. TD SYNNEX Corporation has a 1 year low of $142.22 and a 1 year high of $296.47. The stock has a market capitalization of $20.20 billion, a PE ratio of 18.09, a P/E/G ratio of 0.72 and a beta of 1.44.

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

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. TD SYNNEX's dividend payout ratio is currently 13.74%.

About TD SYNNEX

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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