Public Employees Retirement System of Ohio Acquires New Holdings in TD SYNNEX Corporation $SNX

Public Employees Retirement System of Ohio bought a new stake in TD SYNNEX Corporation (NYSE:SNX) in the 2nd quarter, Holdings Channel.com reports. The fund bought 25,053 shares of the business services provider’s stock, valued at approximately $6,698,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNX. Weiss Asset Management LP bought a new stake in shares of TD SYNNEX in the 1st quarter valued at $4,435,000. Intech Investment Management LLC grew its stake in TD SYNNEX by 38.4% in the fourth quarter. Intech Investment Management LLC now owns 21,578 shares of the business services provider’s stock valued at $3,242,000 after acquiring an additional 5,982 shares during the period. State of Wyoming acquired a new position in TD SYNNEX in the second quarter valued at about $3,378,000. BlackRock Inc. bought a new stake in shares of TD SYNNEX in the second quarter worth about $1,958,683,000. Finally, Geode Capital Management LLC raised its position in shares of TD SYNNEX by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock worth $230,315,000 after purchasing an additional 99,090 shares during the period. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Stock Down 0.6%

NYSE:SNX opened at $251.43 on Wednesday. The stock has a 50-day simple moving average of $253.45 and a 200 day simple moving average of $224.47. TD SYNNEX Corporation has a 52-week low of $142.22 and a 52-week high of $296.47. The company has a market cap of $20.10 billion, a PE ratio of 18.00, a PEG ratio of 0.71 and a beta of 1.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20.

TD SYNNEX (NYSE:SNX) last released its earnings results 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. The firm had revenue of $19.57 billion for 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 business’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, sell-side analysts expect that TD SYNNEX Corporation will post 18.01 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, July 17th. This represents a $1.92 annualized dividend and a yield of 0.8%. TD SYNNEX’s dividend payout ratio is presently 13.74%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNX. Barrington Research boosted their price objective on TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 26th. Barclays raised their target price on shares of TD SYNNEX from $237.00 to $278.00 and gave the stock an “equal weight” rating in a report on Thursday, July 2nd. Royal Bank Of Canada set a $340.00 price target on shares of TD SYNNEX in a research note on Friday, June 26th. Morgan Stanley increased their price objective on shares of TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, Zacks Research lowered shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average price target of $294.67.

Insiders Place Their Bets

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 value of $1,214,850.00. Following the completion of the transaction, the director owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. This trade represents a 21.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 dated Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the sale, the director directly owned 5,828 shares in the company, valued at $1,492,259.40. This trade 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 11,273 shares of company stock valued at $2,851,852. 0.70% of the stock is owned by insiders.

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.