Oak Thistle LLC Takes $723,000 Position in TD SYNNEX Corporation (NYSE:SNX)

Oak Thistle LLC acquired a new stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,958 shares of the business services provider's stock, valued at approximately $723,000.

Several other institutional investors have also modified their holdings of the stock. Commonwealth Equity Services LLC increased its stake in TD SYNNEX by 30.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,961 shares of the business services provider's stock worth $465,000 after purchasing an additional 923 shares during the period. Sei Investments Co. increased its stake in TD SYNNEX by 25.5% in the fourth quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock worth $8,297,000 after purchasing an additional 14,379 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in TD SYNNEX in the fourth quarter worth $2,768,000. LPL Financial LLC increased its stake in TD SYNNEX by 15.0% in the fourth quarter. LPL Financial LLC now owns 15,680 shares of the business services provider's stock worth $1,839,000 after purchasing an additional 2,050 shares during the period. Finally, Vanguard Group Inc. increased its stake in TD SYNNEX by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock worth $901,323,000 after purchasing an additional 29,659 shares during the period. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Stock Up 0.4%

SNX stock traded up $0.59 during trading on Monday, reaching $147.55. 74,101 shares of the company traded hands, compared to its average volume of 824,477. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $148.00. The business has a 50 day simple moving average of $131.88 and a 200 day simple moving average of $127.52. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The company had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter last year, the company earned $2.73 earnings per share. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.19%. The ex-dividend date was Friday, July 11th. TD SYNNEX's dividend payout ratio is currently 20.56%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Bank of America increased their target price on TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday. Barclays set a $140.00 target price on TD SYNNEX in a research note on Tuesday, June 24th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $145.00 target price on shares of TD SYNNEX in a research report on Wednesday, June 25th. Barrington Research reaffirmed an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.30.

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 1,509 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the transaction, the chief financial officer directly owned 49,563 shares of the company's stock, valued at approximately $6,212,722.05. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard T. Hume sold 63,310 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $136.23, for a total value of $8,624,721.30. Following the completion of the transaction, the director directly owned 67,515 shares in the company, valued at $9,197,568.45. This represents a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,076 shares of company stock valued at $9,322,884. 1.00% of the stock is currently owned by corporate insiders.

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.