KBC Group NV Purchases 29,018 Shares of TD SYNNEX Corporation $SNX

Key Points

• KBC Group NV boosted its position in TD SYNNEX (SNX) by 1,478.2%, buying 29,018 shares$4.65 million at quarter end.
• TD SYNNEX handily beat expectations for the quarter, reporting $4.73 EPS versus $3.24 expected and $17.16 billion in revenue, up 18.1% year‑over‑year.
• Analysts have raised targets and remain generally positive—consensus is a "Moderate Buy" with an average target of $186.50, including JPMorgan's $220 and Goldman Sachs' $205 targets.

KBC Group NV grew its position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 1,478.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,981 shares of the business services provider's stock after buying an additional 29,018 shares during the period. KBC Group NV's holdings in TD SYNNEX were worth $4,654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SNX. Dorato Capital Management bought a new stake in TD SYNNEX in the 4th quarter valued at about $27,000. Ossiam boosted its position in TD SYNNEX by 84.3% during the third quarter. Ossiam now owns 164 shares of the business services provider's stock worth $27,000 after purchasing an additional 75 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of TD SYNNEX in the third quarter worth about $30,000. Brown Brothers Harriman & Co. raised its position in shares of TD SYNNEX by 675.9% in the third quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider's stock valued at $37,000 after purchasing an additional 196 shares during the period. Finally, Root Financial Partners LLC bought a new stake in shares of TD SYNNEX in the third quarter valued at approximately $42,000. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $214.72 on Monday. The company has a 50 day moving average of $169.54 and a 200 day moving average of $159.27. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The stock has a market cap of $17.26 billion, a P/E ratio of 17.85, a P/E/G ratio of 1.10 and a beta of 1.23. TD SYNNEX Corporation has a 12 month low of $102.16 and a 12 month high of $215.01.

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

TD SYNNEX Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $1.92 annualized dividend and a yield of 0.9%. TD SYNNEX's dividend payout ratio (DPR) is currently 15.96%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 25,000 shares of the company's stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $160.67, for a total value of $4,016,750.00. Following the transaction, the director directly owned 47,515 shares in the company, valued at $7,634,235.05. This represents a 34.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Gregory Jordan sold 3,225 shares of the firm's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $189.46, for a total value of $611,008.50. Following the completion of the sale, the chief financial officer directly owned 14,035 shares in the company, valued at approximately $2,659,071.10. The trade was a 18.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 82,165 shares of company stock valued at $13,559,368 over the last 90 days. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on SNX shares. Barrington Research reaffirmed an "outperform" rating and issued a $182.00 price objective on shares of TD SYNNEX in a report on Friday, March 27th. JPMorgan Chase & Co. boosted their target price on shares of TD SYNNEX from $185.00 to $220.00 and gave the company a "neutral" rating in a report on Thursday. The Goldman Sachs Group increased their target price on TD SYNNEX from $180.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Morgan Stanley raised their price target on TD SYNNEX from $172.00 to $174.00 and gave the stock an "overweight" rating in a report on Friday, March 20th. Finally, Royal Bank Of Canada boosted their price objective on TD SYNNEX from $180.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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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