Legal & General Group Plc Makes New $30.67 Million Investment in TD SYNNEX Corporation $SNX

Legal & General Group Plc purchased a new position in TD SYNNEX Corporation (NYSE:SNX) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 114,739 shares of the business services provider’s stock, valued at approximately $30,674,000.

Several other institutional investors and hedge funds have also modified their holdings of SNX. Weiss Asset Management LP purchased a new position in TD SYNNEX during the first quarter valued at approximately $4,435,000. Intech Investment Management LLC lifted its position in TD SYNNEX by 38.4% in the 4th quarter. Intech Investment Management LLC now owns 21,578 shares of the business services provider’s stock worth $3,242,000 after buying an additional 5,982 shares in the last quarter. State of Wyoming purchased a new stake in TD SYNNEX in the 2nd quarter worth approximately $3,378,000. BlackRock Inc. acquired a new stake in shares of TD SYNNEX during the 2nd quarter valued at $1,958,683,000. Finally, Geode Capital Management LLC grew its holdings in shares of TD SYNNEX by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock valued at $230,315,000 after acquiring an additional 99,090 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $262.21, for a total transaction of $1,311,050.00. Following the completion of the sale, the director directly owned 13,537 shares in the company, valued at $3,549,536.77. This represents a 26.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were 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 approximately $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 16,273 shares of company stock valued at $4,253,752. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SNX shares. 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 note on Friday, June 26th. Zacks Research cut TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a research note on Friday, June 26th. Barrington Research raised their price target on TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. Finally, JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target for the company in a report on Wednesday, May 27th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and a consensus target price of $294.67.

TD SYNNEX Stock Performance

SNX opened at $253.62 on Friday. 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 company has a market cap of $20.28 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 0.73 and a beta of 1.44. The stock has a 50-day moving average of $254.85 and a 200-day moving average of $222.97. TD SYNNEX Corporation has a 52-week low of $142.22 and a 52-week high of $296.47.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, beating 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 business had revenue of $19.57 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same period last year, the business earned $2.99 EPS. The firm’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, equities 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 disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, July 17th. TD SYNNEX’s payout ratio is presently 13.74%.

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.