Bank of New York Mellon Corp Trims Holdings in TD SYNNEX Corporation $SNX

Bank of New York Mellon Corp lessened its stake in TD SYNNEX Corporation (NYSE:SNX) by 3.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 573,341 shares of the business services provider’s stock after selling 21,784 shares during the period. Bank of New York Mellon Corp’s holdings in TD SYNNEX were worth $96,728,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of TD SYNNEX by 9.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock worth $1,749,000 after purchasing an additional 1,460 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in TD SYNNEX by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock worth $18,631,000 after purchasing an additional 9,815 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in TD SYNNEX by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock valued at $21,226,000 after buying an additional 12,615 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in TD SYNNEX in the second quarter valued at about $818,000. Finally, EverSource Wealth Advisors LLC raised its stake in TD SYNNEX by 17.4% during the second quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock valued at $116,000 after buying an additional 126 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $238.60 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $257.39 and a 200-day simple moving average of $203.27. The company has a market cap of $19.08 billion, a PE ratio of 17.08, a P/E/G ratio of 0.68 and a beta of 1.43. TD SYNNEX Corporation has a 12-month low of $139.23 and a 12-month high of $296.47.

TD SYNNEX (NYSE:SNX) last posted 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 firm’s revenue was up 31.0% compared to the same quarter last year. During the same period last year, the firm earned $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, equities research analysts forecast that TD SYNNEX Corporation will post 18.02 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a $0.48 dividend. The ex-dividend date of this dividend is 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%.

Analysts Set New Price Targets

Several brokerages have recently commented on SNX. Barclays lifted their target price on TD SYNNEX from $237.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 2nd. UBS Group raised their price objective on TD SYNNEX from $310.00 to $352.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a report on Friday, June 26th. Barrington Research increased their target price on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 26th. Finally, Royal Bank Of Canada set a $340.00 price target on shares of TD SYNNEX in a report on Friday, June 26th. One investment 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. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of “Buy” and an average target price of $294.67.

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction dated 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 in the company, valued at $4,503,934.89. This represents a 21.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 20,000 shares of company stock valued at $4,933,700. Corporate insiders own 0.70% of the company’s stock.

TD SYNNEX Company 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.