TD SYNNEX Corporation $SNX Shares Purchased by Khrom Capital Management LLC

Key Points

• Khrom Capital Management LLC increased its holdings in TD SYNNEX Corporation by 1.2%, owning $73.44 million worth of shares, making it the fund's 4th largest position.
• Several institutional investors have also increased their stakes, with 84% of the stock now owned by institutional investors.
• TD SYNNEX reported a 7.2% revenue increase year-over-year for the latest quarter, with earnings per share of $2.99 surpassing estimates.

Khrom Capital Management LLC raised its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 706,447 shares of the business services provider's stock after buying an additional 8,600 shares during the period. TD SYNNEX comprises 9.8% of Khrom Capital Management LLC's holdings, making the stock its 4th biggest holding. Khrom Capital Management LLC owned about 0.84% of TD SYNNEX worth $73,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SNX. Marshall Wace LLP lifted its position in shares of TD SYNNEX by 29.0% during the fourth quarter. Marshall Wace LLP now owns 3,224 shares of the business services provider's stock valued at $378,000 after buying an additional 724 shares during the last quarter. Stifel Financial Corp grew its position in TD SYNNEX by 44.0% during the 4th quarter. Stifel Financial Corp now owns 24,788 shares of the business services provider's stock worth $2,907,000 after purchasing an additional 7,580 shares during the last quarter. Northern Trust Corp increased its stake in TD SYNNEX by 21.9% during the 4th quarter. Northern Trust Corp now owns 649,981 shares of the business services provider's stock valued at $76,230,000 after purchasing an additional 116,571 shares in the last quarter. Utah Retirement Systems lifted its stake in shares of TD SYNNEX by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock worth $481,000 after buying an additional 100 shares during the period. Finally, Comerica Bank increased its position in shares of TD SYNNEX by 6.7% in the 4th quarter. Comerica Bank now owns 44,728 shares of the business services provider's stock valued at $5,246,000 after acquiring an additional 2,828 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ann F. Vezina sold 812 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total value of $122,141.04. Following the completion of the sale, the director owned 6,079 shares of the company's stock, valued at approximately $914,403.18. The trade was a 11.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard T. Hume sold 63,310 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $136.23, for a total value of $8,624,721.30. Following the completion of the sale, the director owned 67,515 shares of the company's stock, valued at $9,197,568.45. This trade represents a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,888 shares of company stock worth $9,115,025. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SNX. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Barclays set a $140.00 price target on shares of TD SYNNEX in a research report on Tuesday, June 24th. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the company an "overweight" rating in a report on Wednesday, June 25th. Royal Bank Of Canada lifted their target price on shares of TD SYNNEX from $145.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. Finally, Barrington Research reaffirmed an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a report on Friday, July 11th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $151.30.

TD SYNNEX Stock Up 0.9%

TD SYNNEX stock traded up $1.32 during mid-day trading on Wednesday, reaching $147.90. 318,501 shares of the company's stock were exchanged, compared to its average volume of 512,486. The company has a fifty day moving average of $144.31 and a 200-day moving average of $128.95. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $153.70. The company has a market cap of $12.20 billion, a P/E ratio of 17.28, a P/E/G ratio of 1.21 and a beta of 1.35.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.28. The firm had revenue of $14.95 billion during the quarter, compared to analysts' expectations of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.73 earnings per share. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. Sell-side analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.2%. TD SYNNEX's payout ratio is 20.56%.

TD SYNNEX Company Profile

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.