Wells Fargo & Company MN Increases Stake in TD SYNNEX Co. (NYSE:SNX)

Wells Fargo & Company MN raised its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 87.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 251,382 shares of the business services provider's stock after acquiring an additional 117,546 shares during the quarter. Wells Fargo & Company MN owned approximately 0.30% of TD SYNNEX worth $29,482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC grew its holdings in TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock worth $27,000 after purchasing an additional 176 shares during the period. UMB Bank n.a. increased its position in TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after buying an additional 140 shares in the last quarter. Blue Trust Inc. boosted its holdings in TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after acquiring an additional 129 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of TD SYNNEX by 31.9% in the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider's stock worth $56,000 after acquiring an additional 116 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of TD SYNNEX by 196.5% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider's stock worth $59,000 after purchasing an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

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Wall Street Analyst Weigh In

SNX has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, March 28th. StockNews.com downgraded TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Barclays decreased their price target on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. UBS Group decreased their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, Barrington Research reiterated an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, TD SYNNEX currently has a consensus rating of "Moderate Buy" and an average price target of $137.22.

TD SYNNEX Price Performance

Shares of SNX traded up $0.21 during mid-day trading on Tuesday, reaching $103.27. The stock had a trading volume of 1,104,167 shares, compared to its average volume of 753,340. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.06 and a beta of 1.36. TD SYNNEX Co. has a 12 month low of $92.23 and a 12 month high of $145.10. The business has a fifty day moving average of $125.45 and a 200 day moving average of $124.34. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business had revenue of $14.53 billion during the quarter, compared to analysts' expectations of $14.79 billion. During the same quarter in the previous year, the company posted $2.99 EPS. The company's quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.70%. TD SYNNEX's dividend payout ratio is 21.97%.

Insider Activity at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company's stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marshall Witt sold 1,510 shares of the firm's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the transaction, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,172 shares of company stock valued at $4,000,861. Corporate insiders own 1.00% of the company's stock.

TD SYNNEX 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.