Fifth Third Bancorp Acquires 61,823 Shares of TD SYNNEX Corporation $SNX

Fifth Third Bancorp boosted its stake in shares of TD SYNNEX Corporation (NYSE:SNX) by 7,009.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 62,705 shares of the business services provider’s stock after buying an additional 61,823 shares during the period. Fifth Third Bancorp’s holdings in TD SYNNEX were worth $10,579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in TD SYNNEX in the 4th quarter valued at approximately $148,559,000. Alyeska Investment Group L.P. acquired a new stake in TD SYNNEX in the 3rd quarter valued at about $135,631,000. AQR Capital Management LLC lifted its position in shares of TD SYNNEX by 141.8% in the fourth quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock valued at $140,431,000 after buying an additional 548,180 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in TD SYNNEX during the 4th quarter valued at $60,104,000. Finally, Marshall Wace LLP lifted its stake in shares of TD SYNNEX by 6,626.0% during the 3rd quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider’s stock worth $65,951,000 after buying an additional 396,766 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SNX. Morgan Stanley boosted their price target on TD SYNNEX from $341.00 to $374.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. The Goldman Sachs Group set a $330.00 price target on shares of TD SYNNEX in a research report on Friday, June 26th. Barclays lifted their target price on TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a research report on Thursday, July 2nd. Weiss Ratings cut shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. Finally, Zacks Research raised TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Buy” and a consensus target price of $294.67.

TD SYNNEX Stock Performance

SNX stock opened at $253.35 on Wednesday. TD SYNNEX Corporation has a 1-year low of $139.23 and a 1-year high of $296.47. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $256.75 and a 200-day moving average price of $200.72. The firm has a market cap of $20.26 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 0.71 and a beta of 1.43.

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 return on equity of 15.37% and a net margin of 1.63%.The firm had revenue of $19.57 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same period in the prior year, the business earned $2.99 EPS. The company’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. As a group, equities research analysts expect that TD SYNNEX Corporation will post 18.02 earnings per share for the current year.

TD SYNNEX Announces Dividend

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

Insider Activity

In related news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 valued at $4,933,700. 0.70% of the stock is owned by company 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.