The Manufacturers Life Insurance Company Purchases New Stake in TD SYNNEX Corporation $SNX

The Manufacturers Life Insurance Company acquired a new position in shares of TD SYNNEX Corporation (NYSE:SNX) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 48,337 shares of the business services provider’s stock, valued at approximately $12,922,000.

Other hedge funds also recently modified their holdings of the company. Ossiam lifted its holdings in 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 buying an additional 75 shares during the period. Bell Investment Advisors Inc acquired a new position in shares of TD SYNNEX in the 2nd quarter valued at $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of TD SYNNEX in the 4th quarter valued at $28,000. Fiduciary Financial Advisors bought a new position in shares of TD SYNNEX in the 2nd quarter worth $28,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of TD SYNNEX during the third quarter worth $30,000. Institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the sale, the director directly 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 legal filing with the SEC, 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 business’s stock in a transaction 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 sale, the director directly owned 5,828 shares in the company, valued at $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 16,273 shares of company stock worth $4,253,752. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNX. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a research note on Friday, June 26th. Royal Bank Of Canada set a $340.00 target price on TD SYNNEX in a research report on Friday, June 26th. UBS Group upped their price target on TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Barclays increased their price target 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. Finally, 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. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus price target of $294.67.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $253.62 on Friday. The stock’s fifty day simple moving average is $254.85 and its 200 day simple moving average is $222.97. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $20.28 billion, a PE ratio of 18.15, a PEG ratio of 0.73 and a beta of 1.44. 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 earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.14 by $0.71. The firm 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 was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, research analysts predict 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 issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, July 17th. TD SYNNEX’s dividend payout ratio (DPR) is 13.74%.

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.