Oliver Luxxe Assets LLC Makes New $5.73 Million Investment in TD SYNNEX Corporation $SNX

Oliver Luxxe Assets LLC acquired a new stake in shares of TD SYNNEX Corporation (NYSE:SNX) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 21,426 shares of the business services provider’s stock, valued at approximately $5,728,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its stake in TD SYNNEX by 0.4% during the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock valued at $388,535,000 after purchasing an additional 9,024 shares during the last quarter. Ninety One UK Ltd raised its stake in shares of TD SYNNEX by 13.1% in the fourth quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider’s stock worth $334,876,000 after purchasing an additional 258,630 shares during the last quarter. LSV Asset Management raised its stake in shares of TD SYNNEX by 16.1% in the fourth quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock worth $313,471,000 after purchasing an additional 288,625 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of TD SYNNEX by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock valued at $230,315,000 after purchasing an additional 99,090 shares in the last quarter. Finally, Metropolis Capital Ltd boosted its position in shares of TD SYNNEX by 9.5% during the first quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider’s stock valued at $216,169,000 after buying an additional 111,222 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Insider Transactions at TD SYNNEX

In related news, Director Ann F. Vezina sold 1,273 shares of the 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 completion of the transaction, the director owned 5,828 shares in the company, valued at approximately $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $1,214,850.00. Following 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,273 shares of company stock worth $5,401,452 over the last three months. 0.70% of the stock is owned by insiders.

TD SYNNEX Stock Performance

Shares of SNX opened at $252.56 on Friday. 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 company has a market capitalization of $20.19 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 0.71 and a beta of 1.44. The stock has a 50 day moving average of $261.80 and a 200 day moving average of $212.82. TD SYNNEX Corporation has a 12 month low of $142.22 and a 12 month high of $296.47.

TD SYNNEX (NYSE:SNX) last issued its quarterly 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. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The business had revenue of $19.57 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same period last year, the company posted $2.99 earnings per share. TD SYNNEX’s quarterly revenue 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. As a group, sell-side analysts forecast that TD SYNNEX Corporation will post 18.01 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were paid 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 was Friday, July 17th. TD SYNNEX’s payout ratio is presently 13.74%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SNX. Morgan Stanley upped their price target on TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. UBS Group lifted their price objective on shares of TD SYNNEX from $310.00 to $352.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Barclays upped their target price on shares of TD SYNNEX from $237.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 2nd. Barrington Research increased their target price on shares of TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 26th. Finally, Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus 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.