Banco Santander S.A. Makes New Investment in TD SYNNEX Corporation (NYSE:SNX)

Banco Santander S.A. acquired a new position in TD SYNNEX Corporation (NYSE:SNX) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,661 shares of the business services provider’s stock, valued at approximately $381,000.

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

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $142.13 on Tuesday. The firm’s 50 day moving average price is $134.61 and its 200-day moving average price is $127.92. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $149.76. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $11.72 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.15 and a beta of 1.32.

TD SYNNEX (NYSE:SNX) last issued 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 analysts’ expectations of $14.30 billion. During the same quarter in the prior year, the business earned $2.73 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.56%.

Insiders Place Their Bets

In other TD SYNNEX news, insider Alim Dhanji sold 1,257 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total transaction of $179,009.37. Following the sale, the insider owned 10,984 shares in the company, valued at approximately $1,564,231.44. This trade represents a 10.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total transaction of $189,153.15. Following 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,076 shares of company stock worth $8,992,884. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $145.00 target price on shares of TD SYNNEX in a research report on Wednesday, June 25th. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the stock an “overweight” rating in a research report on Wednesday, June 25th. JPMorgan Chase & Co. upped their target price on shares of TD SYNNEX from $143.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Barrington Research reissued an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, July 11th. Finally, Barclays set a $140.00 price objective on shares of TD SYNNEX in a research report on Tuesday, June 24th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.30.

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.