TD SYNNEX Corporation $SNX Stock: Retirement Systems of Alabama Grows Position

Retirement Systems of Alabama lifted its holdings in TD SYNNEX Corporation (NYSE:SNX) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,473 shares of the business services provider’s stock after acquiring an additional 5,147 shares during the period. Retirement Systems of Alabama’s holdings in TD SYNNEX were worth $21,183,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of TD SYNNEX during the 2nd quarter valued at $1,958,683,000. Ninety One UK Ltd increased its holdings in TD SYNNEX by 9.8% in the 3rd quarter. Ninety One UK Ltd now owns 1,810,800 shares of the business services provider’s stock valued at $465,104,000 after purchasing an additional 162,116 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in TD SYNNEX in the second quarter valued at about $149,728,000. Metropolis Capital Ltd raised its position in TD SYNNEX by 44.6% in the third quarter. Metropolis Capital Ltd now owns 524,865 shares of the business services provider’s stock valued at $134,812,000 after purchasing an additional 161,902 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of TD SYNNEX by 8.1% during the first quarter. Principal Financial Group Inc. now owns 684,004 shares of the business services provider’s stock worth $115,406,000 after purchasing an additional 51,303 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insiders Place Their Bets

In other TD SYNNEX news, insider Alim Dhanji sold 3,775 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $241.01, for a total transaction of $909,812.75. Following the completion of the sale, the insider owned 11,712 shares in the company, valued at $2,822,709.12. This trade represents a 24.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $241.25 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.64. The company’s fifty day moving average price is $256.65 and its two-hundred day moving average price is $228.61. The firm has a market capitalization of $19.25 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.46 and a beta of 1.43. TD SYNNEX Corporation has a 12 month low of $142.22 and a 12 month high of $298.77.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 24th. The business services provider reported $5.68 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.98. TD SYNNEX had a return on equity of 16.78% and a net margin of 1.75%. The company had revenue of $21.56 billion during the quarter, compared to the consensus estimate of $18.91 billion. During the same period last year, the firm earned $3.58 earnings per share. The company’s revenue was up 37.7% on a year-over-year basis. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. On average, research analysts anticipate that TD SYNNEX Corporation will post 20.35 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 16th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, October 16th. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. TD SYNNEX’s dividend payout ratio is currently 11.70%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays upped their target price on TD SYNNEX from $278.00 to $287.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 8th. UBS Group raised their target price on TD SYNNEX from $352.00 to $379.00 and gave the company a “buy” rating in a report on Friday, September 25th. Weiss Ratings downgraded TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Morgan Stanley boosted their price target on TD SYNNEX from $334.00 to $359.00 and gave the stock an “overweight” rating in a research report on Friday, September 25th. Finally, Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $331.14.

About TD SYNNEX

TD SYNNEX is a global distributor and solutions aggregator serving the information technology industry. The company connects technology vendors with channel partners, including resellers, systems integrators, managed service providers and retailers. Its offerings span hardware, software and services across areas such as cloud computing, cybersecurity, data center infrastructure, networking and end-user computing. TD SYNNEX also provides partners with services that can support technology deployment, integration and ongoing management.