Schwartz Investment Counsel Inc. Lowers Stock Holdings in TD SYNNEX Corporation $SNX

Schwartz Investment Counsel Inc. cut its holdings in shares of TD SYNNEX Corporation (NYSE:SNX) by 29.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,500 shares of the business services provider’s stock after selling 50,000 shares during the period. Schwartz Investment Counsel Inc. owned about 0.15% of TD SYNNEX worth $20,161,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SNX. Norges Bank purchased a new position in TD SYNNEX in the fourth quarter valued at $148,559,000. Alyeska Investment Group L.P. purchased a new stake in shares of TD SYNNEX during the third quarter worth approximately $135,631,000. AQR Capital Management LLC raised its holdings in 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 acquiring an additional 548,180 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of TD SYNNEX in the 4th quarter valued at $60,104,000. Finally, Marshall Wace LLP lifted its position 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 purchasing an additional 396,766 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SNX shares. Morgan Stanley upped their price objective on TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Barclays increased their target price on shares of 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 report on Wednesday, June 17th. Royal Bank Of Canada set a $340.00 target price on TD SYNNEX in a report on Friday, June 26th. Finally, Zacks Research raised TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $294.67.

Insider Activity

In related news, Director Richard T. Hume sold 5,000 shares of the firm’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 completion of the sale, the director 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 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 ninety days, insiders have sold 20,000 shares of company stock valued at $4,933,700. Company insiders own 0.70% of the company’s stock.

TD SYNNEX Stock Down 0.1%

Shares of NYSE:SNX opened at $251.23 on Tuesday. TD SYNNEX Corporation has a fifty-two week low of $139.23 and a fifty-two week high of $296.47. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $256.38 and its 200-day simple moving average is $200.02. The company has a market cap of $20.09 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 0.71 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, beating analysts’ consensus estimates of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The firm had revenue of $19.57 billion during the quarter, compared to the consensus estimate of $16.80 billion. The firm’s revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, equities research analysts predict that TD SYNNEX Corporation will post 18.02 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 dividend yield of 0.8%. TD SYNNEX’s dividend payout ratio is 13.74%.

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.