110,143 Shares in TD SYNNEX Corporation $SNX Acquired by Concentric Capital Strategies LP

Concentric Capital Strategies LP acquired a new stake in shares of TD SYNNEX Corporation (NYSE:SNX) in the third quarter, HoldingsChannel reports. The firm acquired 110,143 shares of the business services provider’s stock, valued at approximately $18,036,000. TD SYNNEX comprises 0.8% of Concentric Capital Strategies LP’s portfolio, making the stock its 19th biggest holding.

Other hedge funds also recently bought and sold shares of the company. Parcion Private Wealth LLC lifted its position in shares of TD SYNNEX by 0.4% during the third quarter. Parcion Private Wealth LLC now owns 15,189 shares of the business services provider’s stock worth $2,487,000 after purchasing an additional 68 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of TD SYNNEX by 3.8% during the third quarter. Cornerstone Wealth Management LLC now owns 1,895 shares of the business services provider’s stock valued at $310,000 after purchasing an additional 69 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of TD SYNNEX by 10.6% in the third quarter. Jones Financial Companies Lllp now owns 775 shares of the business services provider’s stock worth $127,000 after purchasing an additional 74 shares during the last quarter. Ossiam increased its stake in 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 buying an additional 75 shares during the period. Finally, BTC Capital Management Inc. increased its stake in TD SYNNEX by 3.1% in the 3rd quarter. BTC Capital Management Inc. now owns 2,996 shares of the business services provider’s stock worth $491,000 after buying an additional 91 shares during the period. Institutional investors own 84.00% of the company’s stock.

Insiders Place Their Bets

In other TD SYNNEX news, Director Merline Saintil sold 167 shares of TD SYNNEX stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total value of $26,344.25. Following the transaction, the director directly owned 6,995 shares of the company’s stock, valued at approximately $1,103,461.25. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Zammit sold 13,900 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $171.57, for a total value of $2,384,823.00. Following the sale, the chief executive officer owned 170,928 shares of the company’s stock, valued at approximately $29,326,116.96. This represents a 7.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 80,915 shares of company stock valued at $13,111,786. 0.70% of the stock is currently owned by insiders.

TD SYNNEX Price Performance

Shares of SNX stock opened at $153.28 on Friday. The stock’s 50-day moving average is $157.35 and its 200 day moving average is $154.48. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $175.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.21 and a quick ratio of 0.75. The company has a market cap of $12.36 billion, a P/E ratio of 15.37, a PEG ratio of 1.10 and a beta of 1.37.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, January 8th. The business services provider reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.15. TD SYNNEX had a net margin of 1.32% and a return on equity of 12.60%. The business had revenue of $17.38 billion during the quarter, compared to the consensus estimate of $15.46 billion. During the same period in the previous year, the company posted $3.09 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. TD SYNNEX has set its Q1 2026 guidance at 3.000-3.500 EPS. Research analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, January 16th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 1.3%. TD SYNNEX’s dividend payout ratio is currently 19.26%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SNX. UBS Group boosted their price objective on shares of TD SYNNEX from $187.00 to $193.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Barrington Research reaffirmed an “outperform” rating and set a $182.00 price target on shares of TD SYNNEX in a research note on Friday, January 9th. Zacks Research lowered TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, Barclays dropped their price objective on TD SYNNEX from $164.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, January 9th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.64.

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.