Leith Wheeler Investment Counsel Ltd. Makes New $40.66 Million Investment in TD SYNNEX Corporation $SNX

Key Points

• Leith Wheeler Investment Counsel Ltd. has invested approximately $40.66 million in TD SYNNEX Corporation, acquiring 327,899 shares, which now constitutes about 2.4% of their overall holdings.
• TD SYNNEX recently reported earnings of $2.74 per share, missing estimates of $3.05, while their revenue of $15.65 billion surpassed expectations of $15.11 billion.
• The company announced a quarterly dividend of $0.44 per share, with an ex-dividend date set for October 17, 2023, equating to an annualized yield of 1.2%.

Leith Wheeler Investment Counsel Ltd. bought a new stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 327,899 shares of the business services provider's stock, valued at approximately $40,663,000. TD SYNNEX comprises about 2.4% of Leith Wheeler Investment Counsel Ltd.'s holdings, making the stock its 15th biggest position. Leith Wheeler Investment Counsel Ltd. owned 0.40% of TD SYNNEX at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of TD SYNNEX by 329.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock valued at $25,000 after buying an additional 188 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of TD SYNNEX during the first quarter valued at approximately $44,000. Quarry LP bought a new position in shares of TD SYNNEX during the first quarter valued at approximately $51,000. Blue Trust Inc. grew its stake in shares of TD SYNNEX by 23.7% during the second quarter. Blue Trust Inc. now owns 543 shares of the business services provider's stock valued at $74,000 after buying an additional 104 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of TD SYNNEX during the second quarter valued at approximately $92,000. Institutional investors own 84.00% of the company's stock.

Insiders Place Their Bets

In other news, Director Ann F. Vezina sold 812 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total transaction of $122,141.04. Following the completion of the sale, the director owned 6,079 shares in the company, valued at approximately $914,403.18. This represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alim Dhanji sold 1,257 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the sale, the insider owned 10,984 shares of the company's stock, valued at approximately $1,564,231.44. This represents a 10.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,930 shares of company stock worth $430,163 over the last 90 days. Company insiders own 1.00% of the company's stock.

TD SYNNEX Stock Down 3.2%

TD SYNNEX stock opened at $151.54 on Monday. The business has a fifty day moving average of $151.37 and a two-hundred day moving average of $133.15. The company has a quick ratio of 0.71, a current ratio of 1.20 and a debt-to-equity ratio of 0.36. The firm has a market cap of $12.34 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.17 and a beta of 1.43. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $167.76.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Thursday, September 25th. The business services provider reported $2.74 earnings per share for the quarter, missing analysts' consensus estimates of $3.05 by ($0.31). The company had revenue of $15.65 billion for the quarter, compared to analysts' expectations of $15.11 billion. TD SYNNEX had a return on equity of 12.13% and a net margin of 1.27%.The firm's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.86 EPS. TD SYNNEX has set its Q4 2025 guidance at 3.450-3.950 EPS. On average, analysts forecast that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, October 17th. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. TD SYNNEX's dividend payout ratio is currently 19.09%.

Analysts Set New Price Targets

A number of research firms have recently commented on SNX. UBS Group upped their target price on TD SYNNEX from $154.00 to $187.00 and gave the company a "buy" rating in a research note on Monday, September 29th. Barrington Research boosted their price target on TD SYNNEX from $156.00 to $182.00 and gave the company an "outperform" rating in a report on Monday, September 29th. Bank of America boosted their price target on TD SYNNEX from $170.00 to $180.00 and gave the company a "buy" rating in a report on Friday, September 26th. Wall Street Zen lowered TD SYNNEX from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Finally, Loop Capital boosted their price target on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.55.

About TD SYNNEX

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.

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