Freestone Grove Partners LP Purchases Shares of 369,005 TD SYNNEX Corporation $SNX

Freestone Grove Partners LP acquired a new position in TD SYNNEX Corporation (NYSE:SNX) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 369,005 shares of the business services provider’s stock, valued at approximately $98,650,000. TD SYNNEX accounts for approximately 0.6% of Freestone Grove Partners LP’s portfolio, making the stock its 27th largest holding. Freestone Grove Partners LP owned 0.46% of TD SYNNEX at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Bell Investment Advisors Inc bought a new position in shares of TD SYNNEX during the second quarter worth $27,000. Fiduciary Financial Advisors bought a new stake in TD SYNNEX in the 2nd quarter valued at $28,000. Compass Financial Management LLC purchased a new stake in TD SYNNEX in the 2nd quarter worth $38,000. Ossiam lifted its stake in TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of TD SYNNEX during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SNX shares. Barclays lifted their target price on TD SYNNEX from $237.00 to $278.00 and gave the stock an “equal weight” rating in a report on Thursday, July 2nd. Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a research note on Friday, June 26th. UBS Group raised their price target on TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating in a report 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. Finally, JPMorgan Chase & Co. raised TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective on the stock in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, TD SYNNEX currently has an average rating of “Buy” and a consensus target price of $294.67.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $255.77 on Thursday. The company’s 50-day moving average price is $255.96 and its 200-day moving average price is $222.13. TD SYNNEX Corporation has a twelve month low of $142.22 and a twelve month high of $296.47. 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 company has a market cap of $20.45 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $0.71. The firm had revenue of $19.57 billion for 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 revenue was up 31.0% compared to the same quarter last year. 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. On average, equities research analysts forecast that TD SYNNEX Corporation will post 18.01 EPS 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 paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, July 17th. TD SYNNEX’s dividend payout ratio (DPR) is presently 13.74%.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $242.97, for a total value of $1,214,850.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $325,951.65. Following the transaction, the director directly owned 5,828 shares of the company’s stock, valued at $1,492,259.40. The trade was a 17.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 16,273 shares of company stock valued at $4,253,752. Company insiders own 0.70% of the company’s stock.

TD SYNNEX Profile

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.