HB Wealth Management LLC Buys 2,438 Shares of TD SYNNEX Corporation $SNX

HB Wealth Management LLC lifted its position in TD SYNNEX Corporation (NYSE:SNX) by 81.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,440 shares of the business services provider’s stock after purchasing an additional 2,438 shares during the period. HB Wealth Management LLC’s holdings in TD SYNNEX were worth $918,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SNX. Concentric Capital Strategies LP purchased a new position in shares of TD SYNNEX during the third quarter valued at $18,036,000. Intech Investment Management LLC raised its holdings in shares of TD SYNNEX by 38.4% in the fourth quarter. Intech Investment Management LLC now owns 21,578 shares of the business services provider’s stock valued at $3,242,000 after acquiring an additional 5,982 shares in the last quarter. Algert Global LLC purchased a new stake in TD SYNNEX in the third quarter worth about $7,140,000. R Squared Ltd bought a new position in TD SYNNEX during the 4th quarter worth about $1,507,000. Finally, CWM LLC increased its position in TD SYNNEX by 474.0% during the 4th quarter. CWM LLC now owns 7,095 shares of the business services provider’s stock valued at $1,066,000 after purchasing an additional 5,859 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley upped 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. Barclays lifted their price objective on shares of TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, July 2nd. UBS Group boosted their price objective on shares of TD SYNNEX from $310.00 to $352.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Weiss Ratings cut TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 17th. Finally, Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, TD SYNNEX currently has a consensus rating of “Buy” and an average price target of $294.67.

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 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 completion of the sale, the director 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 20,000 shares of company stock worth $4,933,700. 0.70% of the stock is owned by insiders.

TD SYNNEX Trading Up 4.3%

NYSE SNX opened at $245.77 on Thursday. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm has a market cap of $19.65 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 0.66 and a beta of 1.43. The company has a 50 day moving average price of $254.82 and a 200 day moving average price of $197.95. TD SYNNEX Corporation has a 52 week low of $139.23 and a 52 week high of $296.47.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $16.80 billion. During the same period last year, the firm earned $2.99 earnings per share. TD SYNNEX’s revenue 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. As a group, sell-side analysts forecast that TD SYNNEX Corporation will post 18.02 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

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

TD SYNNEX Company 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.