Meeder Asset Management Inc. Acquires New Position in TD SYNNEX Corporation $SNX

Meeder Asset Management Inc. acquired a new stake in TD SYNNEX Corporation (NYSE:SNX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,712 shares of the business services provider’s stock, valued at approximately $12,221,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bell Investment Advisors Inc purchased a new position in shares of TD SYNNEX during the second quarter worth approximately $27,000. Ossiam boosted its holdings in shares of TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Aster Capital Management DIFC Ltd bought a new position in TD SYNNEX in the fourth quarter worth approximately $28,000. Measured Wealth Private Client Group LLC bought a new position in TD SYNNEX in the third quarter worth approximately $30,000. Finally, Lloyd Advisory Services LLC. purchased a new position in TD SYNNEX during the 4th quarter worth $32,000. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $264.39 on Tuesday. The firm has a market cap of $21.14 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 0.73 and a beta of 1.44. TD SYNNEX Corporation has a 52-week low of $142.22 and a 52-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 company’s 50 day moving average is $259.67 and its 200 day moving average is $217.66.

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

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, July 17th. TD SYNNEX’s dividend payout ratio is 13.74%.

Insiders Place Their Bets

In related news, Director Ann F. Vezina sold 1,273 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $262.21, for a total value of $1,311,050.00. Following the completion of the transaction, the director owned 13,537 shares in the company, valued at $3,549,536.77. This trade represents a 26.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,273 shares of company stock valued at $4,253,752 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group lifted their target price on TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Morgan Stanley increased their price target on TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. The Goldman Sachs Group set a $330.00 price target on TD SYNNEX in a research note on Friday, June 26th. Weiss Ratings lowered shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. raised shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective for the company in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average 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.