3,661 Shares in TD SYNNEX Corporation (NYSE:SNX) Acquired by Banco Santander S.A.

Key Points

• Banco Santander S.A. acquired a new stake in TD SYNNEX Corporation, purchasing 3,661 shares valued at approximately $381,000.
• Institutional investors significantly increased their holdings, with Nuveen Asset Management boosting its position by 343.2%, now owning over 1.2 million shares.
• Analysts have set various price targets for TD SYNNEX, with estimates ranging from $140.00 to $170.00, indicating strong buy ratings from multiple firms.

Banco Santander S.A. acquired a new position in TD SYNNEX Corporation (NYSE:SNX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,661 shares of the business services provider's stock, valued at approximately $381,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. LPL Financial LLC lifted its stake 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 worth $1,839,000 after purchasing an additional 2,050 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of TD SYNNEX by 7.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,888 shares of the business services provider's stock worth $1,160,000 after buying an additional 700 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of TD SYNNEX by 87.8% during the fourth quarter. Wells Fargo & Company MN now owns 251,382 shares of the business services provider's stock valued at $29,482,000 after purchasing an additional 117,546 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of TD SYNNEX during the 4th quarter worth approximately $1,321,000. Finally, Envestnet Asset Management Inc. lifted its position in TD SYNNEX by 15.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 55,498 shares of the business services provider's stock valued at $6,508,000 after purchasing an additional 7,410 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNX has been the subject of a number of research analyst reports. Wall Street Zen lowered TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $145.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 25th. Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the company an "overweight" rating in a report on Wednesday, June 25th. Bank of America upped their target price on shares of TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Loop Capital lifted their price target on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $149.30.

TD SYNNEX Price Performance

TD SYNNEX stock traded up $3.42 during trading on Friday, reaching $146.90. The company had a trading volume of 222,286 shares, compared to its average volume of 807,801. The firm has a market capitalization of $12.11 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.32. The firm's 50-day simple moving average is $135.75 and its 200 day simple moving average is $128.16. 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 Corporation has a 1-year low of $92.23 and a 1-year high of $149.76.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business 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 business posted $2.73 earnings per share. The business's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, July 11th. TD SYNNEX's payout ratio is 20.56%.

Insider Activity at TD SYNNEX

In related news, insider Alim Dhanji sold 1,257 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total transaction of $179,009.37. Following the completion of the transaction, the insider directly owned 10,984 shares in the company, valued at $1,564,231.44. This trade represents a 10.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marshall Witt sold 1,509 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the sale, the chief financial officer owned 49,563 shares in the company, valued at approximately $6,212,722.05. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,076 shares of company stock worth $8,992,884. Company 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.