First Trust Advisors LP Cuts Stake in TD SYNNEX Corporation $SNX

First Trust Advisors LP lessened its holdings in TD SYNNEX Corporation (NYSE:SNX) by 49.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 302,767 shares of the business services provider’s stock after selling 295,983 shares during the quarter. First Trust Advisors LP’s holdings in TD SYNNEX were worth $41,086,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SNX. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of 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 valued at $25,000 after acquiring an additional 188 shares in the last quarter. Quarry LP purchased a new stake in TD SYNNEX during the 1st quarter worth about $51,000. Caitong International Asset Management Co. Ltd acquired a new stake in TD SYNNEX in the 2nd quarter valued at about $55,000. MAI Capital Management raised its position in 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. Finally, Hantz Financial Services Inc. boosted its stake in shares of TD SYNNEX by 1,012.5% in the 2nd quarter. Hantz Financial Services Inc. now owns 445 shares of the business services provider’s stock valued at $60,000 after buying an additional 405 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

SNX has been the topic of several analyst reports. Wall Street Zen cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Monday, November 3rd. Barrington Research raised their price objective on shares of TD SYNNEX from $156.00 to $182.00 and gave the company an “outperform” rating in a report on Monday, September 29th. The Goldman Sachs Group boosted their target price on shares of TD SYNNEX from $145.00 to $164.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Raymond James Financial set a $175.00 target price on TD SYNNEX in a report on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TD SYNNEX in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $169.55.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $154.58 on Wednesday. The stock’s 50-day moving average is $153.50 and its two-hundred day moving average is $145.64. 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 Corporation has a 1 year low of $92.23 and a 1 year high of $167.76. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.07 and a beta of 1.36.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 25th. The business services provider reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.53. The firm had revenue of $15.65 billion during the quarter, compared to analysts’ expectations 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 firm earned $2.86 EPS. TD SYNNEX has set its Q4 2025 guidance at 3.450-3.950 EPS. Analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

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

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, insider Miriam Anne Murphy sold 1,673 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $156.49, for a total transaction of $261,807.77. Following the transaction, the insider directly owned 16,529 shares of the company’s stock, valued at approximately $2,586,623.21. This trade represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alim Dhanji sold 1,762 shares of TD SYNNEX stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $154.55, for a total transaction of $272,317.10. Following the completion of the transaction, the insider owned 13,426 shares in the company, valued at approximately $2,074,988.30. This represents a 11.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,800 shares of company stock worth $3,050,350 over the last 90 days. Company insiders own 1.00% of the company’s stock.

About TD SYNNEX

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.