Royal Bank of Canada Sells 8,042 Shares of TD SYNNEX Corporation $SNX

Royal Bank of Canada trimmed its holdings in TD SYNNEX Corporation (NYSE:SNX) by 11.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,430 shares of the business services provider’s stock after selling 8,042 shares during the period. Royal Bank of Canada owned 0.07% of TD SYNNEX worth $10,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNX. Ossiam lifted its holdings in TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of TD SYNNEX in the third quarter valued at about $30,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of TD SYNNEX during the 4th quarter worth about $28,000. SJS Investment Consulting Inc. boosted its holdings in shares of TD SYNNEX by 44.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider’s stock worth $34,000 after buying an additional 62 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new position in TD SYNNEX in the 4th quarter valued at about $32,000. 84.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SNX shares. Barrington Research raised their price objective on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 26th. Weiss Ratings lowered TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a report on Friday, June 26th. UBS Group upped their price objective on TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective on the stock in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $294.67.

TD SYNNEX Trading Up 0.1%

Shares of SNX stock opened at $252.56 on Monday. TD SYNNEX Corporation has a fifty-two week low of $142.22 and a fifty-two week high of $296.47. The stock’s fifty day moving average price is $261.80 and its two-hundred day moving average price is $213.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. The company has a market cap of $20.19 billion, a PE ratio of 18.08, a P/E/G ratio of 0.71 and a beta of 1.44.

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

TD SYNNEX Announces Dividend

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

Insider Buying and Selling

In other news, Director Ann F. Vezina sold 1,273 shares of the company’s 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 transaction, the director directly owned 5,828 shares in the company, valued at approximately $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $242.97, for a total value of $1,214,850.00. Following the completion of the transaction, the director owned 18,537 shares of the company’s stock, valued at $4,503,934.89. The trade was a 21.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 21,273 shares of company stock valued at $5,401,452. 0.70% of the stock is owned by corporate insiders.

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.