Concentric Capital Strategies LP Makes New Investment in TD SYNNEX Corporation $SNX

Concentric Capital Strategies LP acquired a new position in TD SYNNEX Corporation (NYSE:SNX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 110,143 shares of the business services provider’s stock, valued at approximately $18,036,000. TD SYNNEX accounts for approximately 0.8% of Concentric Capital Strategies LP’s holdings, making the stock its 19th biggest holding. Concentric Capital Strategies LP owned about 0.14% of TD SYNNEX as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in TD SYNNEX by 10.1% during the second quarter. Vanguard Group Inc. now owns 8,248,639 shares of the business services provider’s stock valued at $1,119,340,000 after purchasing an additional 759,022 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of TD SYNNEX by 8.5% in the second quarter. JPMorgan Chase & Co. now owns 4,230,059 shares of the business services provider’s stock worth $574,019,000 after purchasing an additional 330,085 shares during the period. State Street Corp increased its stake in shares of TD SYNNEX by 0.7% in the second quarter. State Street Corp now owns 2,363,709 shares of the business services provider’s stock worth $320,755,000 after purchasing an additional 15,400 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of TD SYNNEX by 0.8% in the second quarter. Geode Capital Management LLC now owns 1,391,880 shares of the business services provider’s stock worth $188,908,000 after purchasing an additional 10,392 shares in the last quarter. Finally, Metropolis Capital Ltd lifted its stake in shares of TD SYNNEX by 44.8% during the 3rd quarter. Metropolis Capital Ltd now owns 1,228,603 shares of the business services provider’s stock valued at $201,184,000 after buying an additional 379,904 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNX has been the subject of several recent analyst reports. Barclays dropped their target price on shares of TD SYNNEX from $164.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, January 9th. Weiss Ratings restated a “buy (b-)” rating on shares of TD SYNNEX in a research report on Wednesday, January 21st. The Goldman Sachs Group assumed coverage on TD SYNNEX in a research note on Tuesday, January 13th. They issued a “buy” rating and a $180.00 price objective for the company. Barrington Research reiterated an “outperform” rating and set a $182.00 target price on shares of TD SYNNEX in a research report on Friday, January 9th. Finally, Zacks Research downgraded TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.64.

Insider Activity

In related news, CEO Patrick Zammit sold 13,900 shares of TD SYNNEX stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $171.57, for a total transaction of $2,384,823.00. Following the completion of the transaction, the chief executive officer directly owned 170,928 shares of the company’s stock, valued at approximately $29,326,116.96. The trade was a 7.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Merline Saintil sold 167 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total transaction of $26,344.25. Following the transaction, the director owned 6,995 shares in the company, valued at $1,103,461.25. The trade was a 2.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 80,915 shares of company stock valued at $13,111,786. 0.70% of the stock is currently owned by company insiders.

TD SYNNEX Price Performance

NYSE:SNX opened at $153.28 on Friday. The firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.10 and a beta of 1.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.21 and a quick ratio of 0.75. The business has a 50 day simple moving average of $157.35 and a 200-day simple moving average of $154.48. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $175.56.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, January 8th. The business services provider reported $3.83 earnings per share for the quarter, beating the consensus estimate of $3.68 by $0.15. TD SYNNEX had a return on equity of 12.60% and a net margin of 1.32%.The firm had revenue of $17.38 billion for the quarter, compared to the consensus estimate of $15.46 billion. During the same quarter in the previous year, the company posted $3.09 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. TD SYNNEX has set its Q1 2026 guidance at 3.000-3.500 EPS. Equities analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 16th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.3%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, January 16th. TD SYNNEX’s dividend payout ratio (DPR) is presently 19.26%.

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.