Karras Company Inc. Buys Shares of 2,523 TD SYNNEX Corporation $SNX

Karras Company Inc. purchased a new stake in shares of TD SYNNEX Corporation (NYSE:SNX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,523 shares of the business services provider’s stock, valued at approximately $379,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cornerstone Wealth Management LLC grew its holdings in shares of TD SYNNEX by 3.8% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 1,895 shares of the business services provider’s stock valued at $310,000 after purchasing an additional 69 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of TD SYNNEX by 3.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 71 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of TD SYNNEX by 10.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 775 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 74 shares during the last quarter. Ossiam grew its holdings in shares of TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Finally, BTC Capital Management Inc. grew its holdings in shares of TD SYNNEX by 3.1% during the 3rd quarter. BTC Capital Management Inc. now owns 2,996 shares of the business services provider’s stock valued at $491,000 after purchasing an additional 91 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Stock Up 2.8%

Shares of NYSE SNX opened at $237.30 on Friday. The company has a market capitalization of $19.08 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.01 and a beta of 1.40. TD SYNNEX Corporation has a 52-week low of $118.35 and a 52-week high of $242.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22. The company’s 50 day moving average price is $201.21 and its 200-day moving average price is $171.01.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. The firm had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.80 EPS. Equities analysts forecast that TD SYNNEX Corporation will post 15.69 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were given a $0.48 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. TD SYNNEX’s payout ratio is 15.96%.

Insider Activity

In other news, Director Merline Saintil sold 167 shares of the business’s stock in a transaction that occurred on 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 owned 6,995 shares in the company, valued at approximately $1,103,461.25. The trade was a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $229.54, for a total transaction of $1,147,700.00. Following the completion of the transaction, the director owned 28,537 shares in the company, valued at $6,550,382.98. This trade represents a 14.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,417 shares of company stock worth $3,559,726 over the last quarter. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SNX. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Royal Bank Of Canada lifted their price target on shares of TD SYNNEX from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. The Goldman Sachs Group boosted their target price on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Morgan Stanley upped their price target on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and a consensus target price of $197.70.

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.