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

Karras Company Inc. purchased a new stake in TD SYNNEX Corporation (NYSE:SNX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,523 shares of the business services provider’s stock, valued at approximately $379,000.

A number of other large investors have also recently added to or reduced their stakes in SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of TD SYNNEX by 9.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock worth $1,749,000 after buying an additional 1,460 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of TD SYNNEX by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock worth $18,631,000 after buying an additional 9,815 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of TD SYNNEX by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock worth $21,226,000 after buying an additional 12,615 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of TD SYNNEX during the 2nd quarter worth about $818,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of TD SYNNEX by 17.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock worth $116,000 after buying an additional 126 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $237.30 on Friday. TD SYNNEX Corporation has a twelve month low of $118.35 and a twelve month high of $242.49. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.41. The company has a 50-day simple moving average of $201.21 and a two-hundred day simple moving average of $171.01. The stock has a market capitalization of $19.08 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.01 and a beta of 1.40.

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

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio (DPR) is currently 15.96%.

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $229.54, for a total value of $1,147,700.00. Following the transaction, the director directly owned 28,537 shares of the company’s stock, valued at $6,550,382.98. This trade represents a 14.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Gregory Jordan sold 3,225 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $189.46, for a total transaction of $611,008.50. Following the completion of the transaction, the chief financial officer directly owned 14,035 shares in the company, valued at approximately $2,659,071.10. This represents a 18.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,417 shares of company stock valued at $3,559,726 in the last 90 days. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SNX has been the subject of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of TD SYNNEX in a research note on Monday, May 4th. Barrington Research restated an “outperform” rating and set a $182.00 target price on shares of TD SYNNEX in a research note on Friday, March 27th. Morgan Stanley raised their target price on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Zacks Research upgraded shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of TD SYNNEX from $185.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and an average price target 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.