Concentric Capital Strategies LP Cuts Stock Holdings in TD SYNNEX Corporation $SNX

Concentric Capital Strategies LP decreased its holdings in shares of TD SYNNEX Corporation (NYSE:SNX) by 80.0% in the 1st quarter, Holdings Channel reports. The firm owned 24,001 shares of the business services provider’s stock after selling 96,079 shares during the period. Concentric Capital Strategies LP’s holdings in TD SYNNEX were worth $2,495,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ellevest Inc. grew its holdings in shares of TD SYNNEX by 3.9% during the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock worth $280,000 after purchasing an additional 90 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of TD SYNNEX by 1.6% during the first quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider’s stock worth $630,000 after purchasing an additional 94 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of TD SYNNEX by 0.6% during the first quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider’s stock worth $1,873,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of TD SYNNEX by 0.5% during the first quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the business services provider’s stock worth $2,194,000 after purchasing an additional 100 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of TD SYNNEX by 16.8% during the first quarter. GAMMA Investing LLC now owns 750 shares of the business services provider’s stock worth $78,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays set a $140.00 price objective on TD SYNNEX in a report on Tuesday, June 24th. JPMorgan Chase & Co. increased their price objective on TD SYNNEX from $143.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Wall Street Zen upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Bank of America increased their price objective on TD SYNNEX from $156.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, Loop Capital increased their price objective on TD SYNNEX from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 30th. Eight research 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.30.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 1,509 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the sale, the chief financial officer directly owned 49,563 shares in the company, valued at $6,212,722.05. This represents a 2.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ann F. Vezina sold 812 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total value of $122,141.04. Following the sale, the director owned 6,079 shares of the company’s stock, valued at $914,403.18. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,888 shares of company stock valued at $9,115,025. 1.00% of the stock is owned by insiders.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $147.90 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $12.20 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.21 and a beta of 1.35. The business’s 50-day moving average price is $144.31 and its 200-day moving average price is $128.95. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $153.70.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.28. The company had revenue of $14.95 billion during the quarter, compared to analysts’ expectations of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%.TD SYNNEX’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.73 EPS. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. Sell-side analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.2%. TD SYNNEX’s dividend payout ratio is currently 20.56%.

About TD SYNNEX

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.