Pinnbrook Capital Management LP Takes $7.38 Million Position in TD SYNNEX Corporation $SNX

by · The Markets Daily

Pinnbrook Capital Management LP bought a new stake in TD SYNNEX Corporation (NYSE:SNX – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 27,600 shares of the business services provider’s stock, valued at approximately $7,379,000.

Other large investors also recently bought and sold shares of the company. Gamco Investors INC. ET AL lifted its position in TD SYNNEX by 1.1% during the first quarter. Gamco Investors INC. ET AL now owns 4,667 shares of the business services provider’s stock valued at $787,000 after purchasing an additional 52 shares during the last quarter. Essex Financial Services Inc. raised its position in shares of TD SYNNEX by 2.9% during the 1st quarter. Essex Financial Services Inc. now owns 1,957 shares of the business services provider’s stock valued at $330,000 after buying an additional 56 shares in the last quarter. Kesler Norman & Wride LLC lifted its holdings in shares of TD SYNNEX by 0.7% in the 1st quarter. Kesler Norman & Wride LLC now owns 8,581 shares of the business services provider’s stock valued at $1,448,000 after acquiring an additional 61 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of TD SYNNEX by 44.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 62 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its position in TD SYNNEX by 3.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider’s stock worth $317,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

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 shares were sold at an average price of $242.97, for a total value of $1,214,850.00. Following the completion of the sale, the director directly owned 18,537 shares of the company’s stock, valued at $4,503,934.89. The trade was a 21.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was 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 $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,273 shares of company stock worth $4,253,752. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNX. The Goldman Sachs Group set a $330.00 price objective on TD SYNNEX in a research report on Friday, June 26th. Morgan Stanley lifted their target price on TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Royal Bank Of Canada set a $340.00 target price on TD SYNNEX in a research report on Friday, June 26th. Barrington Research increased their price target on TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 26th. Finally, Barclays raised their price target 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $294.67.

View Our Latest Research Report on SNX

TD SYNNEX Trading Down 0.3%

Shares of NYSE SNX opened at $250.14 on Friday. TD SYNNEX Corporation has a fifty-two week low of $142.22 and a fifty-two week high of $296.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. The company has a market cap of $20.00 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 0.71 and a beta of 1.44. The business’s 50 day moving average price is $257.93 and its 200-day moving average price is $219.87.

TD SYNNEX (NYSE:SNX – Get Free Report) last posted its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating 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 company had revenue of $19.57 billion during the quarter, compared to analysts’ expectations of $16.80 billion. During the same quarter in the previous year, the business earned $2.99 EPS. TD SYNNEX’s 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. On average, sell-side analysts expect that TD SYNNEX Corporation will post 18.01 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a $0.48 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. TD SYNNEX’s dividend payout ratio is presently 13.74%.

About TD SYNNEX

(Free Report)

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.

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