Oak Thistle LLC Purchases New Stake in TD SYNNEX Corporation (NYSE:SNX)

Oak Thistle LLC bought a new position in TD SYNNEX Corporation (NYSE:SNX - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 6,958 shares of the business services provider's stock, valued at approximately $723,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC lifted its stake in shares of TD SYNNEX by 30.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,961 shares of the business services provider's stock valued at $465,000 after purchasing an additional 923 shares during the last quarter. Sei Investments Co. lifted its position in shares of TD SYNNEX by 25.5% during the 4th 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 last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of TD SYNNEX during the 4th quarter worth about $2,768,000. LPL Financial LLC boosted its holdings in shares of TD SYNNEX by 15.0% in the 4th quarter. LPL Financial LLC now owns 15,680 shares of the business services provider's stock valued at $1,839,000 after buying an additional 2,050 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of TD SYNNEX by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock valued at $901,323,000 after purchasing an additional 29,659 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Up 0.6%

NYSE SNX traded up $0.82 during mid-day trading on Friday, reaching $146.71. 676,696 shares of the company's stock traded hands, compared to its average volume of 695,784. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 1.19 and a beta of 1.30. The company has a fifty day simple moving average of $131.88 and a 200-day simple moving average of $127.44. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $147.18.

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

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.20%. TD SYNNEX's payout ratio is presently 20.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley set a $155.00 price target on TD SYNNEX and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Loop Capital lifted their price objective on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Barrington Research restated an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday, July 11th. Finally, UBS Group dropped their price target on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $149.30.

Insiders Place Their Bets

In other news, Director Richard T. Hume sold 63,310 shares of the firm's stock in a transaction on 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 sale, the director owned 67,515 shares in the company, valued at approximately $9,197,568.45. This trade represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the insider owned 14,883 shares in the company, valued at $1,637,130. This represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,076 shares of company stock worth $9,322,884. Insiders own 1.00% of the company's stock.

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.