Inceptionr LLC Lowers Stock Position in TD SYNNEX Corporation $SNX

Inceptionr LLC lessened its position in shares of TD SYNNEX Corporation (NYSE:SNX) by 58.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,684 shares of the business services provider’s stock after selling 3,809 shares during the quarter. Inceptionr LLC’s holdings in TD SYNNEX were worth $453,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SNX. Bank of Nova Scotia boosted its position in TD SYNNEX by 85.5% during the first quarter. Bank of Nova Scotia now owns 31,404 shares of the business services provider’s stock worth $5,298,000 after purchasing an additional 14,472 shares in the last quarter. Sei Investments Co. increased its position in shares of TD SYNNEX by 41.9% in the first quarter. Sei Investments Co. now owns 620,366 shares of the business services provider’s stock valued at $104,661,000 after buying an additional 183,185 shares in the last quarter. Lido Advisors LLC acquired a new position in shares of TD SYNNEX during the 1st quarter worth approximately $377,000. State of Wyoming raised its stake in shares of TD SYNNEX by 149.3% during the 1st quarter. State of Wyoming now owns 3,830 shares of the business services provider’s stock worth $646,000 after buying an additional 2,294 shares during the period. Finally, NewEdge Wealth LLC purchased a new position in shares of TD SYNNEX during the 1st quarter valued at approximately $217,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were 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. The trade was a 21.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 20,000 shares of company stock valued at $4,933,700. Insiders own 0.70% of the company’s stock.

TD SYNNEX Trading Up 0.1%

Shares of SNX opened at $243.06 on Monday. TD SYNNEX Corporation has a 52-week low of $139.23 and a 52-week high of $296.47. The stock has a market cap of $19.43 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 0.69 and a beta of 1.43. The firm’s fifty day moving average is $258.69 and its two-hundred day moving average is $205.99. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.71. The firm had revenue of $19.57 billion for the quarter, compared to the consensus estimate of $16.80 billion. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period last year, the firm posted $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Research analysts forecast that TD SYNNEX Corporation will post 18.01 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

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

Analysts Set New Price Targets

SNX has been the subject of several recent analyst reports. Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Barrington Research lifted their target price on shares of TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 26th. The Goldman Sachs Group set a $330.00 target price on shares of TD SYNNEX in a research note on Friday, June 26th. UBS Group upped their price target on shares of TD SYNNEX from $310.00 to $352.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. raised shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target on the stock in a research note on Wednesday, May 27th. One research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $294.67.

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.