Turtle Creek Wealth Advisors Expands Stake in TD SYNNEX Corporation

Turtle Creek Wealth Advisors LLC has acquired a new stake in TD SYNNEX Corporation, purchasing 1,775 shares valued at approximately $241,000, according to the firm’s recent 13F filing with the Securities and Exchange Commission (SEC). This investment reflects the growing interest among institutional investors in the business services provider, which operates in the IT distribution sector.

In addition to Turtle Creek’s investment, several other institutional investors have adjusted their positions in TD SYNNEX. Notably, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings by an impressive 329.8% during the first quarter, now owning 245 shares valued at $25,000. Other firms making similar moves include Cullen Frost Bankers Inc., which acquired a new position worth $44,000, and Quarry LP, investing around $51,000. Additionally, Blue Trust Inc. raised its stake by 23.7%, bringing its total holdings to 543 shares valued at $74,000.

Insider Trading Activity and Stock Performance

Recent insider trading has also marked the company’s activity. On July 22, 2023, insider Alim Dhanji sold 1,257 shares at an average price of $142.41, totaling approximately $179,009.37. This sale decreased his holdings to 10,984 shares, valued at around $1,564,231.44. In another transaction, Chief Financial Officer Marshall Witt sold 861 shares on September 17, 2023, for $129,012.24, reducing his ownership to 49,777 shares valued at approximately $7,458,585.68.

Over the past 90 days, insiders have sold a total of 7,930 shares valued at $1,209,663. Currently, company insiders hold about 1.00% of the firm’s stock, while institutional investors collectively own 84.00% of TD SYNNEX.

As for stock performance, TD SYNNEX opened at $153.17 on a recent trading day. The company has a fifty-day moving average of $152.54 and a 200-day moving average of $134.50. The stock’s 52-week range spans from a low of $92.23 to a high of $167.76. TD SYNNEX’s market capitalization stands at $12.47 billion, with a price-to-earnings (P/E) ratio of 16.61 and a beta of 1.43.

Recent Earnings and Dividends

On September 25, 2023, TD SYNNEX released its quarterly earnings report, revealing earnings per share (EPS) of $2.74, falling short of analysts’ expectations of $3.05 by $0.31. The company reported a net profit margin of 1.27% and a return on equity of 12.13%. Revenue for the quarter reached $15.65 billion, exceeding predictions of $15.11 billion and marking a 6.6% increase from the previous year.

Looking ahead, TD SYNNEX has set its Q4 2025 EPS guidance between $3.450 and $3.950. Analysts project that the company will achieve an annual EPS of 11.88 for the current fiscal year.

The company also announced a quarterly dividend of $0.44 per share, scheduled for payment on October 31, 2023. Investors of record on October 17, 2023 will receive this dividend, which equates to an annualized amount of $1.76 and a dividend yield of 1.1%. The ex-dividend date is set for October 17, 2023, and the dividend payout ratio is 19.09%.

TD SYNNEX Corporation operates as a distributor and solutions aggregator within the IT ecosystem, providing a variety of products and services including computing devices, data center technologies, and endpoint technology software. The company’s continued growth and strategic investments highlight its significant role in the evolving technology landscape.