Pinnbrook Capital Management LP Takes Position in TD SYNNEX Corporation $SNX

Pinnbrook Capital Management LP acquired a new stake in TD SYNNEX Corporation (NYSE:SNX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 27,600 shares of the business services provider’s stock, valued at approximately $7,379,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNX. Bell Investment Advisors Inc purchased a new position in TD SYNNEX during the 2nd quarter valued at about $27,000. Ossiam lifted its position in shares of TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after purchasing an additional 75 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of TD SYNNEX during the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC bought a new position in shares of TD SYNNEX during the third quarter valued at approximately $30,000. Finally, Lloyd Advisory Services LLC. purchased a new position in TD SYNNEX during the fourth quarter valued at approximately $32,000. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Price Performance

NYSE SNX opened at $250.14 on Friday. The firm’s fifty day simple moving average is $257.93 and its two-hundred day simple moving average is $219.87. The firm has a market capitalization of $20.00 billion, a P/E ratio of 17.91, a P/E/G ratio of 0.71 and a beta of 1.44. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. TD SYNNEX Corporation has a 12-month low of $142.22 and a 12-month high of $296.47.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data 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. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The firm had revenue of $19.57 billion during the quarter, compared to analysts’ expectations of $16.80 billion. During the same quarter last year, the firm earned $2.99 EPS. The business’s quarterly revenue was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Analysts forecast that TD SYNNEX Corporation will post 18.01 EPS for the current fiscal 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 given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, July 17th. TD SYNNEX’s payout ratio is currently 13.74%.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $242.97, for a total value of $1,214,850.00. Following the transaction, the director directly owned 18,537 shares of the company’s stock, valued at $4,503,934.89. This represents a 21.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 on Friday, July 31st. The stock was sold at an average price of $256.05, for a total value 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,273 shares of company stock worth $4,253,752 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target on the stock in a report on Wednesday, May 27th. Morgan Stanley boosted 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. Barrington Research upped their price objective 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, Royal Bank Of Canada set a $340.00 price objective on TD SYNNEX in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, TD SYNNEX presently has a consensus rating of “Buy” and a consensus target price of $294.67.

TD SYNNEX 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.