Norges Bank Invests $124.62 Million in TD SYNNEX Corporation $SNX

Norges Bank purchased a new stake in TD SYNNEX Corporation (NYSE:SNX) in the 2nd quarter, Holdings Channel reports. The fund purchased 918,336 shares of the business services provider’s stock, valued at approximately $124,618,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in TD SYNNEX by 329.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider’s stock worth $25,000 after acquiring an additional 188 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of TD SYNNEX during the 2nd quarter worth $55,000. MAI Capital Management increased its holdings in shares of TD SYNNEX by 90.2% in the 2nd quarter. MAI Capital Management now owns 428 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 203 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of TD SYNNEX by 1,012.5% in the second quarter. Hantz Financial Services Inc. now owns 445 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 405 shares during the period. Finally, Quarry LP purchased a new stake in TD SYNNEX during the first quarter worth about $51,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial set a $175.00 price target on shares of TD SYNNEX in a research report on Thursday, September 25th. Royal Bank Of Canada raised their price objective on TD SYNNEX from $165.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Barclays boosted their target price on TD SYNNEX from $140.00 to $164.00 and gave the stock an “equal weight” rating in a research report on Friday, September 26th. Weiss Ratings restated a “buy (b-)” rating on shares of TD SYNNEX in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price objective on shares of TD SYNNEX from $173.00 to $181.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.55.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $153.53 on Wednesday. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $167.76. The company has a market capitalization of $12.50 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.19 and a beta of 1.41. The stock has a fifty day moving average of $154.13 and a two-hundred day moving average of $144.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 1.20.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, September 25th. The business services provider reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.05 by $0.53. The business had revenue of $15.65 billion for the quarter, compared to the consensus estimate of $15.11 billion. TD SYNNEX had a return on equity of 12.13% and a net margin of 1.27%.The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.86 earnings per share. TD SYNNEX has set its Q4 2025 guidance at 3.450-3.950 EPS. On average, analysts anticipate that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 17th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, October 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. TD SYNNEX’s payout ratio is 19.09%.

Insiders Place Their Bets

In other TD SYNNEX news, insider Alim Dhanji sold 1,762 shares of TD SYNNEX stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $154.55, for a total value of $272,317.10. Following the completion of the sale, the insider directly owned 13,426 shares of the company’s stock, valued at approximately $2,074,988.30. The trade was a 11.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Miriam Anne Murphy sold 1,673 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $156.49, for a total value of $261,807.77. Following the transaction, the insider directly owned 16,529 shares in the company, valued at approximately $2,586,623.21. This represents a 9.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 19,632 shares of company stock valued at $3,024,583. 1.00% of the stock is currently owned by insiders.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.