21,551 Shares in TD SYNNEX Corporation $SNX Acquired by Ninety One North America Inc.

Key Points

• Ninety One North America Inc. purchased a new position of 21,551 shares of TD SYNNEX (NYSE:SNX) in Q4, valued at about $3.24 million.
• Earnings beat: TD SYNNEX reported $4.73 EPS vs. $3.24 expected and revenue of $17.16 billion (vs. $15.59B est.), a 18.1% year‑over‑year revenue increase.
• Dividend and analyst view: the company announced a quarterly dividend of $0.48/share (annualized $1.92, ~0.9% yield) and carries a "Moderate Buy" analyst consensus with an average price target of $186.50 (some targets raised up to $220).

Ninety One North America Inc. purchased a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,551 shares of the business services provider's stock, valued at approximately $3,238,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dorato Capital Management bought a new stake in shares of TD SYNNEX during the 4th quarter worth approximately $27,000. Ossiam lifted its stake in shares of 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. Measured Wealth Private Client Group LLC bought a new stake in shares of TD SYNNEX during the 3rd quarter worth approximately $30,000. Brown Brothers Harriman & Co. lifted its stake in shares of TD SYNNEX by 675.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider's stock worth $37,000 after acquiring an additional 196 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of TD SYNNEX during the 3rd quarter worth approximately $42,000. 84.00% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Miriam Anne Murphy sold 3,025 shares of the business's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $200.14, for a total transaction of $605,423.50. Following the transaction, the insider directly owned 10,820 shares in the company, valued at $2,165,514.80. The trade was a 21.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Merline Saintil sold 167 shares of the business's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $157.75, for a total value of $26,344.25. Following the transaction, the director owned 6,995 shares in the company, valued at approximately $1,103,461.25. This trade represents a 2.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,165 shares of company stock worth $13,559,368 over the last quarter. Company insiders own 0.70% of the company's stock.

TD SYNNEX Trading Up 2.8%

Shares of NYSE:SNX opened at $214.72 on Friday. TD SYNNEX Corporation has a 12-month low of $102.16 and a 12-month high of $215.01. The business's fifty day simple moving average is $169.54 and its 200-day simple moving average is $159.33. The company has a market capitalization of $17.26 billion, a PE ratio of 17.85, a P/E/G ratio of 1.08 and a beta of 1.23. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. During the same period last year, the business posted $2.80 EPS. The business's revenue was up 18.1% compared to the same quarter last year. As a group, equities research analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, April 15th. TD SYNNEX's payout ratio is 15.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SNX shares. The Goldman Sachs Group lifted their target price on TD SYNNEX from $180.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Barclays lifted their target price on TD SYNNEX from $163.00 to $166.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 1st. Barrington Research reaffirmed an "outperform" rating and set a $182.00 target price on shares of TD SYNNEX in a research report on Friday, March 27th. UBS Group lifted their target price on TD SYNNEX from $187.00 to $193.00 and gave the company a "buy" rating in a research report on Friday, January 9th. Finally, JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $185.00 to $220.00 and gave the company a "neutral" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $186.50.

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.

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