Hillsdale Investment Management Inc. Acquires New Shares in TD SYNNEX Corporation $SNX

Hillsdale Investment Management Inc. bought a new stake in TD SYNNEX Corporation (NYSE:SNX) during the first quarter, HoldingsChannel.com reports. The firm bought 33,220 shares of the business services provider’s stock, valued at approximately $5,605,000.

Several other institutional investors have also recently bought and sold shares of SNX. Norges Bank acquired a new stake in shares of TD SYNNEX in the 4th quarter valued at approximately $148,559,000. Alyeska Investment Group L.P. acquired a new position in TD SYNNEX during the 3rd quarter worth approximately $135,631,000. AQR Capital Management LLC lifted its stake in TD SYNNEX by 141.8% in the 4th quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock valued at $140,431,000 after purchasing an additional 548,180 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in TD SYNNEX in the fourth quarter valued at approximately $60,104,000. Finally, Marshall Wace LLP grew its stake in shares of TD SYNNEX by 6,626.0% during the third quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider’s stock worth $65,951,000 after buying an additional 396,766 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $253.35 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. TD SYNNEX Corporation has a 52 week low of $139.23 and a 52 week high of $296.47. The firm has a market cap of $20.26 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 0.71 and a beta of 1.43. The firm’s fifty day moving average is $256.75 and its 200-day moving average is $200.72.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Sell-side analysts predict that TD SYNNEX Corporation will post 18.02 earnings per share for the current year.

TD SYNNEX Announces Dividend

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

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 20,000 shares of company stock worth $4,933,700. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have 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 target for the company in a research note on Wednesday, May 27th. Weiss Ratings lowered TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 17th. Barrington Research upped their target price on TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 26th. Morgan Stanley lifted their price target on TD SYNNEX from $341.00 to $374.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average 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.