Canada Pension Plan Investment Board Takes Position in TD SYNNEX Corporation $SNX

Canada Pension Plan Investment Board purchased a new stake in shares of TD SYNNEX Corporation (NYSE:SNX) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 105,900 shares of the business services provider’s stock, valued at approximately $28,311,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in TD SYNNEX during the 2nd quarter valued at $1,958,683,000. Norges Bank bought a new position in TD SYNNEX in the 4th quarter worth $148,559,000. Alyeska Investment Group L.P. purchased a new stake in shares of TD SYNNEX in the 3rd quarter worth about $135,631,000. Bank of New York Mellon Corp bought a new stake in shares of TD SYNNEX during the 2nd quarter valued at about $149,728,000. Finally, AQR Capital Management LLC boosted its stake in shares of TD SYNNEX by 141.8% during the 4th quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock valued at $140,431,000 after purchasing an additional 548,180 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $253.62 on Friday. The company has a market capitalization of $20.28 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 0.73 and a beta of 1.44. 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 one year low of $142.22 and a one year high of $296.47. The company’s 50-day moving average is $254.85 and its 200 day moving average is $222.97.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The business had revenue of $19.57 billion during the quarter, compared to analysts’ expectations of $16.80 billion. During the same period in the previous year, the company earned $2.99 earnings per share. The business’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. 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 declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, July 17th. TD SYNNEX’s dividend payout ratio is presently 13.74%.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was 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. The trade was a 21.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the transaction, the director owned 5,828 shares in the company, valued at $1,492,259.40. This represents a 17.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,273 shares of company stock worth $4,253,752. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SNX shares. Zacks Research downgraded shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank Of Canada set a $340.00 target price on TD SYNNEX in a report on Friday, June 26th. Barclays increased 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. Morgan Stanley raised their target price on TD SYNNEX from $341.00 to $374.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, The Goldman Sachs Group set a $330.00 price target on TD SYNNEX in a research report on Friday, June 26th. Eight equities 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.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target 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.