Hsbc Holdings PLC Makes New $14.98 Million Investment in TD SYNNEX Corporation $SNX

Hsbc Holdings PLC bought a new position in TD SYNNEX Corporation (NYSE:SNX) in the second quarter, HoldingsChannel.com reports. The fund bought 55,855 shares of the business services provider’s stock, valued at approximately $14,981,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new position in TD SYNNEX in the 2nd quarter worth approximately $1,958,683,000. Norges Bank acquired a new stake in shares of TD SYNNEX in the 4th quarter valued at $148,559,000. Alyeska Investment Group L.P. bought a new stake in shares of TD SYNNEX during the third quarter worth $135,631,000. Bank of New York Mellon Corp acquired a new position in shares of TD SYNNEX during the second quarter valued at $149,728,000. Finally, AQR Capital Management LLC boosted its holdings in TD SYNNEX by 141.8% in the fourth quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock valued at $140,431,000 after acquiring an additional 548,180 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other TD SYNNEX news, Director Ann F. Vezina sold 1,273 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $256.05, for a total value of $325,951.65. Following the completion of the sale, the director owned 5,828 shares of the company’s stock, 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 document filed 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 stock was sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the completion of the sale, the director owned 18,537 shares in the company, valued at approximately $4,503,934.89. This trade represents 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. In the last 90 days, insiders have sold 16,273 shares of company stock valued at $4,253,752. Corporate insiders own 0.70% of the company’s stock.

TD SYNNEX Trading Up 1.9%

NYSE SNX opened at $259.99 on Friday. TD SYNNEX Corporation has a 12 month low of $142.22 and a 12 month high of $296.47. The stock has a 50-day simple moving average of $255.47 and a 200 day simple moving average of $222.76. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $20.79 billion, a PE ratio of 18.61, a P/E/G ratio of 0.72 and a beta of 1.44.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.37% and a net margin of 1.63%.The company’s revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Research analysts forecast that TD SYNNEX Corporation will post 18.01 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed 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 was Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a yield of 0.7%. TD SYNNEX’s payout ratio is currently 13.74%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SNX shares. JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective for the company in a research report on Wednesday, May 27th. The Goldman Sachs Group set a $330.00 target price on shares of TD SYNNEX in a research note on Friday, June 26th. Weiss Ratings cut shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 17th. Morgan Stanley boosted their price target on shares of TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, UBS Group increased their price objective on shares of TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating in a report on Friday, June 26th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.67.

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.