TD SYNNEX Corporation $SNX Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its position in TD SYNNEX Corporation (NYSE:SNX) by 4.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 331,768 shares of the business services provider’s stock after selling 15,631 shares during the quarter. NewEdge Advisors LLC’s holdings in TD SYNNEX were worth $88,695,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Weiss Asset Management LP purchased a new position in TD SYNNEX in the 1st quarter valued at approximately $4,435,000. Intech Investment Management LLC increased its position in shares of TD SYNNEX by 38.4% during the fourth quarter. Intech Investment Management LLC now owns 21,578 shares of the business services provider’s stock worth $3,242,000 after acquiring an additional 5,982 shares during the period. State of Wyoming purchased a new stake in shares of TD SYNNEX during the second quarter worth $3,378,000. Deutsche Bank AG acquired a new stake in shares of TD SYNNEX in the second quarter valued at $7,146,000. Finally, BlackRock Inc. purchased a new position in TD SYNNEX in the second quarter valued at $1,958,683,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Stock Performance

Shares of SNX opened at $258.87 on Wednesday. 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 firm has a market cap of $20.70 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.74 and a beta of 1.43. The company’s 50 day simple moving average is $252.19 and its 200-day simple moving average is $227.98. TD SYNNEX Corporation has a 12-month low of $142.22 and a 12-month high of $296.47.

TD SYNNEX (NYSE:SNX) last released its quarterly 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. The firm had revenue of $19.57 billion during the quarter, compared to the consensus estimate of $16.80 billion. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. TD SYNNEX’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, equities analysts predict that TD SYNNEX Corporation will post 18.01 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, July 17th. TD SYNNEX’s dividend payout ratio is presently 13.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings downgraded TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 17th. Morgan Stanley boosted their price objective on TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price on the stock in a research note on Wednesday, May 27th. UBS Group raised their target price 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. Finally, Barclays lifted their price target on shares of TD SYNNEX from $278.00 to $287.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.67.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction that occurred 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 directly owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. This trade represents a 21.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 transaction, the director owned 5,828 shares in the company, valued at $1,492,259.40. This trade represents 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 three months, insiders have sold 11,273 shares of company stock worth $2,851,852. Corporate 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.