Man Group plc Acquires Shares of 23,646 TD SYNNEX Corporation $SNX

Man Group plc acquired a new stake in shares of TD SYNNEX Corporation (NYSE:SNX) during the second quarter, Holdings Channel.com reports. The firm acquired 23,646 shares of the business services provider’s stock, valued at approximately $6,322,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bell Investment Advisors Inc bought a new stake in shares of TD SYNNEX during the second quarter worth $27,000. Fiduciary Financial Advisors bought a new position in shares of TD SYNNEX in the second quarter worth about $28,000. Compass Financial Management LLC purchased a new position in shares of TD SYNNEX during the second quarter worth approximately $38,000. Ossiam increased its holdings in TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after purchasing an additional 75 shares during the period. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of TD SYNNEX in the third quarter valued at about $30,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $242.97, for a total value of $1,214,850.00. Following the sale, the director directly owned 18,537 shares in the company, valued at approximately $4,503,934.89. The trade was a 21.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 TD SYNNEX stock in a transaction that occurred on Friday, July 31st. The stock was 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 in the company, valued at $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,273 shares of company stock valued at $4,253,752. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SNX. Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. Barclays upped their target price on TD SYNNEX from $237.00 to $278.00 and gave the stock an “equal weight” rating in a report on Thursday, July 2nd. UBS Group lifted their price target on TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating in a report on Friday, June 26th. JPMorgan Chase & Co. raised TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target for the company in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group set a $330.00 price objective on TD SYNNEX in a research report on Friday, June 26th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and a consensus target price of $294.67.

TD SYNNEX Price Performance

Shares of SNX opened at $253.62 on Friday. 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 company’s fifty day moving average price is $254.85 and its 200-day moving average price is $222.97. TD SYNNEX Corporation has a 1-year low of $142.22 and a 1-year high of $296.47. The firm has a market capitalization of $20.28 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 0.72 and a beta of 1.44.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, topping 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 company had revenue of $19.57 billion during the quarter, compared to analyst estimates of $16.80 billion. During the same period last year, the firm posted $2.99 EPS. TD SYNNEX’s revenue for the quarter was up 31.0% compared to the same quarter last year. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, equities research analysts predict that TD SYNNEX Corporation will post 18.01 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. TD SYNNEX’s dividend payout ratio is presently 13.74%.

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.