New York State Teachers Retirement System Reduces Stock Position in TD SYNNEX Corporation $SNX

New York State Teachers Retirement System cut its holdings in TD SYNNEX Corporation (NYSE:SNX) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,201 shares of the business services provider’s stock after selling 2,685 shares during the period. New York State Teachers Retirement System’s holdings in TD SYNNEX were worth $13,193,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Essex Financial Services Inc. grew its position in TD SYNNEX by 2.9% in the first quarter. Essex Financial Services Inc. now owns 1,957 shares of the business services provider’s stock worth $330,000 after acquiring an additional 56 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of TD SYNNEX by 44.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 62 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of TD SYNNEX by 3.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 71 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of TD SYNNEX by 1.0% in the 4th quarter. Quadrant Capital Group LLC now owns 7,588 shares of the business services provider’s stock worth $1,140,000 after purchasing an additional 73 shares during the period. Finally, Ossiam increased its position in shares of TD SYNNEX by 84.3% during the 3rd 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 last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total transaction of $1,401,900.00. Following the completion of the sale, the director owned 23,537 shares in the company, valued at $6,599,304.06. This trade represents a 17.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Miriam Anne Murphy sold 3,025 shares of the business’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $200.14, for a total transaction of $605,423.50. Following the completion of the sale, the insider directly owned 10,820 shares of the company’s stock, valued at approximately $2,165,514.80. This trade represents a 21.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,025 shares of company stock worth $4,324,274 in the last ninety days. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SNX has been the topic of several recent research reports. Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Barclays lifted their price objective on shares of TD SYNNEX from $237.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Thursday. UBS Group increased their target price on shares of TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating 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 report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price for the company in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $294.67.

TD SYNNEX Price Performance

Shares of SNX stock opened at $244.82 on Monday. The stock has a 50 day moving average price of $253.95 and a 200 day moving average price of $196.06. TD SYNNEX Corporation has a 52-week low of $138.25 and a 52-week high of $296.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. The firm has a market capitalization of $19.58 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.69 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The company had revenue of $19.57 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same quarter in the prior year, the company posted $2.99 EPS. TD SYNNEX’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. As a group, sell-side analysts predict that TD SYNNEX Corporation will post 18.02 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be issued a $0.48 dividend. The ex-dividend date is Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. TD SYNNEX’s dividend payout ratio is presently 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.