NewEdge Advisors LLC Reduces Holdings in TD SYNNEX Corporation $SNX

NewEdge Advisors LLC reduced its position in TD SYNNEX Corporation (NYSE:SNX) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 331,768 shares of the business services provider’s stock after selling 15,631 shares during the quarter. NewEdge Advisors LLC owned about 0.41% of TD SYNNEX worth $88,695,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNX. Baird Financial Group Inc. purchased a new stake in shares of TD SYNNEX during the second quarter worth $350,000. Allworth Financial LP lifted its stake in shares of TD SYNNEX by 3.9% in the second quarter. Allworth Financial LP now owns 2,297 shares of the business services provider’s stock worth $614,000 after buying an additional 87 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of TD SYNNEX by 0.7% in the second quarter. Arizona State Retirement System now owns 19,964 shares of the business services provider’s stock worth $5,337,000 after buying an additional 148 shares in the last quarter. Waverly Advisors LLC boosted its position in TD SYNNEX by 0.8% during the second quarter. Waverly Advisors LLC now owns 7,472 shares of the business services provider’s stock worth $1,998,000 after acquiring an additional 60 shares during the last quarter. Finally, Nykredit A S purchased a new stake in TD SYNNEX during the 2nd quarter valued at about $673,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, 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 completion of the sale, the director directly owned 5,828 shares in the company, valued at $1,492,259.40. This trade represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the business’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 sale, the director directly owned 18,537 shares in the company, valued at $4,503,934.89. This trade represents a 21.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,273 shares of company stock worth $2,851,852 in the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

TD SYNNEX Stock Down 1.4%

SNX stock opened at $258.87 on Wednesday. The firm has a market cap of $20.70 billion, a PE ratio of 18.53, a PEG ratio of 0.74 and a beta of 1.43. TD SYNNEX Corporation has a one year low of $142.22 and a one year high of $296.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. The firm’s 50 day moving average price is $252.19 and its 200-day moving average price is $227.98.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The company had revenue of $19.57 billion during the quarter, compared to analysts’ expectations of $16.80 billion. During the same quarter last year, the firm earned $2.99 earnings per share. The firm’s quarterly 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. On average, equities research analysts anticipate that TD SYNNEX Corporation will post 18.01 EPS for the current year.

TD SYNNEX Announces Dividend

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

Wall Street Analysts Forecast Growth

SNX has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective for the company in a report on Wednesday, May 27th. Zacks Research cut TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Royal Bank Of Canada set a $340.00 price objective on TD SYNNEX in a research report on Friday, June 26th. Morgan Stanley boosted their price objective on TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, Barclays upped their target price on TD SYNNEX from $278.00 to $287.00 and gave the company an “equal weight” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average target price of $295.67.

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.