Bank of Nova Scotia Has $5.30 Million Stake in TD SYNNEX Corporation $SNX

Bank of Nova Scotia raised its holdings in TD SYNNEX Corporation (NYSE:SNX) by 85.5% in the 1st quarter, HoldingsChannel reports. The firm owned 31,404 shares of the business services provider’s stock after purchasing an additional 14,472 shares during the quarter. Bank of Nova Scotia’s holdings in TD SYNNEX were worth $5,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dorato Capital Management bought a new position in shares of TD SYNNEX in the fourth quarter valued at about $27,000. Ossiam grew its holdings in TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in TD SYNNEX in the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC acquired a new stake in TD SYNNEX in the 3rd quarter valued at about $30,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of TD SYNNEX in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $244.92 on Tuesday. 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 Corporation has a 52 week low of $139.23 and a 52 week high of $296.47. The company’s 50 day moving average price is $259.02 and its two-hundred day moving average price is $206.64. The company has a market capitalization of $19.58 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 0.69 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The company had revenue of $19.57 billion during the quarter, compared to analysts’ expectations of $16.80 billion. During the same period in the prior year, the firm earned $2.99 earnings per share. TD SYNNEX’s revenue for the quarter was up 31.0% compared to the same quarter last year. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, analysts expect that TD SYNNEX Corporation will post 18.01 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, July 17th. TD SYNNEX’s dividend payout ratio is 13.74%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Morgan Stanley upped their price objective on TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price for the company in a research report on Wednesday, May 27th. The Goldman Sachs Group set a $330.00 price target on TD SYNNEX in a research note on Friday, June 26th. Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a report on Friday, June 26th. Finally, Barrington Research boosted their price objective on TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 26th. One research 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 MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $294.67.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of the company’s 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 sale, the director directly owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. This represents a 21.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,000 shares of company stock worth $4,933,700 over the last 90 days. 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.