Robeco Institutional Asset Management B.V. Has $5.84 Million Position in TD SYNNEX Corporation $SNX

Key Points

• Robeco Institutional Asset Management B.V. boosted its stake in TD SYNNEX by 2,434.3% in Q4, acquiring 37,367 shares to hold 38,902 shares valued at about $5.84 million.
• TD SYNNEX topped quarterly estimates with EPS $4.73 vs $3.24 expected and revenue of $17.16B (up 18.1% YoY), and analysts have raised ratings and price targets (consensus: Moderate Buy; average target $186.50).
• Insiders sold a total of 82,165 shares (~$13.56M) over the last quarter—including CEO Patrick Zammit’s sale of 13,900 shares—while institutional investors own about 84% of the company and insiders hold just 0.70%.

Robeco Institutional Asset Management B.V. raised its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 2,434.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,902 shares of the business services provider's stock after acquiring an additional 37,367 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in TD SYNNEX were worth $5,844,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Alyeska Investment Group L.P. acquired a new position in TD SYNNEX in the 3rd quarter valued at about $135,631,000. Victory Capital Management Inc. lifted its position in TD SYNNEX by 123.6% during the third quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider's stock worth $119,263,000 after acquiring an additional 402,573 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of TD SYNNEX during the fourth quarter worth approximately $60,104,000. Marshall Wace LLP boosted its holdings in shares of TD SYNNEX by 6,626.0% during the third quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider's stock worth $65,951,000 after acquiring an additional 396,766 shares during the period. Finally, Metropolis Capital Ltd increased its stake in shares of TD SYNNEX by 44.8% during the third quarter. Metropolis Capital Ltd now owns 1,228,603 shares of the business services provider's stock worth $201,184,000 after purchasing an additional 379,904 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

TD SYNNEX Price Performance

NYSE:SNX opened at $208.62 on Friday. TD SYNNEX Corporation has a 52 week low of $102.16 and a 52 week high of $210.02. The firm has a market cap of $16.77 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 1.06 and a beta of 1.23. The firm's 50-day simple moving average is $168.67 and its 200 day simple moving average is $158.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22.

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

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 15th. TD SYNNEX's dividend payout ratio (DPR) is currently 15.96%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Merline Saintil sold 167 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total value of $26,344.25. Following the transaction, the director directly owned 6,995 shares of the company's stock, valued at $1,103,461.25. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Zammit sold 13,900 shares of the firm's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $171.57, for a total transaction of $2,384,823.00. Following the completion of the transaction, the chief executive officer directly owned 170,928 shares in the company, valued at approximately $29,326,116.96. This represents a 7.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 82,165 shares of company stock worth $13,559,368. Corporate insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Royal Bank Of Canada increased their price objective on TD SYNNEX from $180.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 1st. Barrington Research reissued an "outperform" rating and set a $182.00 target price on shares of TD SYNNEX in a report on Friday, March 27th. Zacks Research raised TD SYNNEX from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. Finally, UBS Group raised their price target on shares of TD SYNNEX from $187.00 to $193.00 and gave the stock a "buy" rating in a research report on Friday, January 9th. One 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $186.50.

TD SYNNEX Company Profile

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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