Bank of Nova Scotia Takes Position in TD SYNNEX Corporation $SNX

Bank of Nova Scotia purchased a new position in shares of TD SYNNEX Corporation (NYSE:SNX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,704 shares of the business services provider’s stock, valued at approximately $2,594,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in TD SYNNEX during the 2nd quarter valued at $1,958,683,000. Norges Bank bought a new stake in shares of TD SYNNEX in the 4th quarter worth about $148,559,000. Alyeska Investment Group L.P. bought a new stake in shares of TD SYNNEX in the 3rd quarter worth about $135,631,000. Bank of New York Mellon Corp acquired a new stake in shares of TD SYNNEX in the 2nd quarter valued at about $149,728,000. Finally, AQR Capital Management LLC raised its stake in shares of 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 in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings cut TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. Royal Bank Of Canada set a $340.00 target price on shares of TD SYNNEX in a report on Friday, June 26th. Morgan Stanley raised their price target on shares of TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a research report on Friday, June 26th. Finally, Barrington Research increased their price objective on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $294.67.

TD SYNNEX Price Performance

NYSE SNX opened at $255.77 on Thursday. The company has a 50-day moving average price of $255.96 and a two-hundred day moving average price of $222.13. TD SYNNEX Corporation has a 52 week low of $142.22 and a 52 week high of $296.47. The stock has a market cap of $20.45 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results 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 company 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 business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Analysts forecast 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. Shareholders of record on Friday, July 17th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.92 annualized dividend and a yield of 0.8%. TD SYNNEX’s payout ratio is presently 13.74%.

Insiders Place Their Bets

In other news, Director Richard T. Hume sold 5,000 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 dated Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the sale, the director owned 5,828 shares in the company, valued at approximately $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,273 shares of company stock valued at $4,253,752 in the last quarter. 0.70% of the stock is currently owned by insiders.

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.