Ruffer LLP Makes New $10.14 Million Investment in TD SYNNEX Co. (NYSE:SNX)

Ruffer LLP bought a new stake in TD SYNNEX Co. (NYSE:SNX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 86,425 shares of the business services provider’s stock, valued at approximately $10,136,000. Ruffer LLP owned about 0.10% of TD SYNNEX as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. AIA Group Ltd increased its position in TD SYNNEX by 37.6% during the 3rd quarter. AIA Group Ltd now owns 8,296 shares of the business services provider’s stock worth $996,000 after purchasing an additional 2,269 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of TD SYNNEX in the 3rd quarter worth $58,000. Atria Investments Inc increased its position in TD SYNNEX by 4.1% during the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock worth $344,000 after purchasing an additional 112 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of TD SYNNEX by 15.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,964 shares of the business services provider’s stock valued at $716,000 after acquiring an additional 777 shares during the period. Finally, Meixler Investment Management Ltd. lifted its stake in shares of TD SYNNEX by 2.1% during the third quarter. Meixler Investment Management Ltd. now owns 5,814 shares of the business services provider’s stock worth $698,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SNX. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price target for the company from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada boosted their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Finally, Barclays boosted their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.50.

TD SYNNEX Stock Down 0.0 %

Shares of SNX opened at $129.29 on Friday. The business’s 50 day simple moving average is $135.83 and its 200-day simple moving average is $124.88. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX Co. has a one year low of $102.23 and a one year high of $145.10. The company has a market capitalization of $10.91 billion, a P/E ratio of 16.24, a PEG ratio of 1.06 and a beta of 1.51.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.36%. TD SYNNEX’s payout ratio is 22.11%.

Insider Buying and Selling at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the transaction, the chief financial officer now directly owns 48,362 shares in the company, valued at approximately $5,858,089.06. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,172 shares of company stock valued at $6,342,766. 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.