QRG Capital Management Inc. Purchases New Position in TD SYNNEX Corporation $SNX

QRG Capital Management Inc. acquired a new position in shares of TD SYNNEX Corporation (NYSE:SNX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,738 shares of the business services provider’s stock, valued at approximately $462,000.

Several other institutional investors have also modified their holdings of the stock. Concentric Capital Strategies LP purchased a new stake in TD SYNNEX in the third quarter valued at approximately $18,036,000. Intech Investment Management LLC boosted its stake in TD SYNNEX by 38.4% during the 4th quarter. Intech Investment Management LLC now owns 21,578 shares of the business services provider’s stock worth $3,242,000 after purchasing an additional 5,982 shares during the period. Algert Global LLC acquired a new stake in TD SYNNEX during the 3rd quarter worth $7,140,000. R Squared Ltd purchased a new position in TD SYNNEX during the 4th quarter worth $1,507,000. Finally, CWM LLC increased its stake in TD SYNNEX by 474.0% in the fourth quarter. CWM LLC now owns 7,095 shares of the business services provider’s stock valued at $1,066,000 after purchasing an additional 5,859 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

NYSE SNX opened at $252.48 on Friday. The business has a 50 day moving average price of $255.92 and a 200 day moving average price of $199.01. The company has a market capitalization of $20.19 billion, a P/E ratio of 18.07, a PEG ratio of 0.71 and a beta of 1.43. TD SYNNEX Corporation has a 1-year low of $139.23 and a 1-year high of $296.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 0.64.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.14 by $0.71. The company had revenue of $19.57 billion for the quarter, compared to the consensus estimate of $16.80 billion. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.TD SYNNEX’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Sell-side analysts expect that TD SYNNEX Corporation will post 18.02 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, July 17th. TD SYNNEX’s dividend payout ratio is presently 13.74%.

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the completion of the transaction, the director directly owned 18,537 shares in the company, valued at approximately $4,503,934.89. This trade represents a 21.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 20,000 shares of company stock valued at $4,933,700. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Barrington Research upped their price objective on TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, June 26th. UBS Group lifted their target price on TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating in a research note on Friday, June 26th. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a report on Friday, June 26th. Finally, Weiss Ratings cut TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $294.67.

About TD SYNNEX

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.