Empowered Funds LLC Makes New Investment in TD SYNNEX Corporation $SNX

Empowered Funds LLC bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX) during the second quarter, Holdings Channel reports. The institutional investor bought 110,678 shares of the business services provider’s stock, valued at approximately $29,589,000.

A number of other institutional investors have also modified their holdings of SNX. BlackRock Inc. bought a new position in shares of TD SYNNEX during the second quarter valued at approximately $1,958,683,000. State Street Corp lifted its holdings in shares of TD SYNNEX by 0.4% in the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock worth $388,535,000 after purchasing an additional 9,024 shares during the last quarter. LSV Asset Management boosted its position in TD SYNNEX by 16.1% during the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock valued at $313,471,000 after purchasing an additional 288,625 shares during the period. Geode Capital Management LLC grew its stake in 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 worth $230,315,000 after buying an additional 99,090 shares during the last quarter. Finally, Metropolis Capital Ltd grew its stake in TD SYNNEX by 9.5% during the 1st quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider’s stock worth $216,169,000 after buying an additional 111,222 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley raised their target price on TD SYNNEX from $341.00 to $374.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Royal Bank Of Canada set a $340.00 price target on shares of TD SYNNEX in a research report on Friday, June 26th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a research report on Friday, June 26th. Zacks Research lowered shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Barrington Research upped their target price on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 26th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $294.67.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the business’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 sale, the director directly owned 13,537 shares in the company, valued at approximately $3,549,536.77. The trade was a 26.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the completion of the transaction, the director owned 5,828 shares of the company’s stock, valued at $1,492,259.40. This trade represents a 17.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,273 shares of company stock worth $4,253,752 over the last 90 days. 0.70% of the stock is owned by insiders.

TD SYNNEX Stock Up 1.9%

Shares of TD SYNNEX stock opened at $259.99 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 0.64. TD SYNNEX Corporation has a 1-year low of $142.22 and a 1-year high of $296.47. The business’s fifty day moving average price is $255.47 and its two-hundred day moving average price is $222.76. The company has a market capitalization of $20.79 billion, a P/E ratio of 18.61, a PEG ratio of 0.72 and a beta of 1.44.

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

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.92 annualized dividend and a yield of 0.7%. TD SYNNEX’s dividend payout ratio (DPR) 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.