M.D. Sass LLC Invests $49.78 Million in TD SYNNEX Corporation $SNX

M.D. Sass LLC bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 186,193 shares of the business services provider’s stock, valued at approximately $49,777,000. TD SYNNEX makes up approximately 3.3% of M.D. Sass LLC’s investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNX. BlackRock Inc. bought a new stake in TD SYNNEX during the second quarter worth about $1,958,683,000. State Street Corp grew its position in TD SYNNEX by 0.4% during the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock worth $388,535,000 after acquiring an additional 9,024 shares during the last quarter. LSV Asset Management increased its holdings in TD SYNNEX by 16.1% during the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock valued at $313,471,000 after purchasing an additional 288,625 shares in the last quarter. Geode Capital Management LLC increased its holdings in TD SYNNEX by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock valued at $230,315,000 after purchasing an additional 99,090 shares in the last quarter. Finally, Metropolis Capital Ltd raised its position in TD SYNNEX by 9.5% in the 1st quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider’s stock valued at $216,169,000 after purchasing an additional 111,222 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNX has been the topic of a number of recent analyst reports. Barrington Research boosted their price objective on TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. Barclays lifted their price target on TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, July 2nd. Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 17th. Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada set a $340.00 price objective on shares of TD SYNNEX in a research report on Friday, June 26th. 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’s stock. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Buy” and an average target price of $294.67.

TD SYNNEX Stock Down 1.5%

Shares of NYSE:SNX opened at $259.96 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 0.64. The stock has a market cap of $20.79 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 0.73 and a beta of 1.44. The company has a 50 day moving average of $259.42 and a 200-day moving average of $218.37. TD SYNNEX Corporation has a one year low of $142.22 and a one year high of $296.47.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The firm had revenue of $19.57 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same period last year, the firm earned $2.99 earnings per share. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, sell-side analysts forecast that TD SYNNEX Corporation will post 18.01 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, July 17th. TD SYNNEX’s dividend payout ratio (DPR) is currently 13.74%.

Insiders Place Their Bets

In other news, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total transaction of $1,311,050.00. Following the completion of the transaction, the director directly owned 13,537 shares in the company, valued at approximately $3,549,536.77. The trade was a 26.97% decrease in their position. The transaction 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 the company’s stock in a transaction dated 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 directly owned 5,828 shares of the company’s stock, valued at approximately $1,492,259.40. This trade represents a 17.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 16,273 shares of company stock valued at $4,253,752. 0.70% of the stock is owned by insiders.

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.