Ruffer LLP Buys 9,576 Shares of TD SYNNEX Corporation $SNX

Key Points

• Ruffer LLP raised its stake in TD SYNNEX by 35.2% in Q4, buying 9,576 shares to hold 36,770 shares worth $5,532,000 according to its latest 13F filing.
• TD SYNNEX reported stronger-than-expected quarterly results (EPS $4.73 vs. $3.24 est.; revenue $17.16B vs. $15.59B), has heavy institutional ownership (~84%), and recent analyst moves have pushed its consensus rating to a Moderate Buy with a $186.50 price target.

Ruffer LLP raised its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 35.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,770 shares of the business services provider's stock after acquiring an additional 9,576 shares during the period. Ruffer LLP's holdings in TD SYNNEX were worth $5,532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNX. Alyeska Investment Group L.P. bought a new stake in TD SYNNEX in the 3rd quarter valued at $135,631,000. Victory Capital Management Inc. increased its holdings in TD SYNNEX by 123.6% in the 3rd quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider's stock valued at $119,263,000 after acquiring an additional 402,573 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in TD SYNNEX in the 4th quarter valued at $60,104,000. Marshall Wace LLP increased its holdings in shares of TD SYNNEX by 6,626.0% in the 3rd quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider's stock worth $65,951,000 after buying an additional 396,766 shares during the last quarter. Finally, Metropolis Capital Ltd increased its holdings in shares of TD SYNNEX by 44.8% in the 3rd quarter. Metropolis Capital Ltd now owns 1,228,603 shares of the business services provider's stock worth $201,184,000 after buying an additional 379,904 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SNX shares. Zacks Research upgraded shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. Barrington Research restated an "outperform" rating and issued a $182.00 target price on shares of TD SYNNEX in a report on Friday, March 27th. Barclays boosted their target price on shares of TD SYNNEX from $163.00 to $166.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 1st. Wall Street Zen upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Finally, Royal Bank Of Canada boosted their target price on shares of TD SYNNEX from $180.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, TD SYNNEX has a consensus rating of "Moderate Buy" and a consensus price target of $186.50.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $215.20 on Wednesday. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.10 and a beta of 1.23. TD SYNNEX Corporation has a 12 month low of $104.15 and a 12 month high of $220.90. The firm's 50-day moving average is $171.32 and its 200 day moving average is $160.04. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, beating the consensus estimate of $3.24 by $1.49. The company had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The firm's revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.80 EPS. Research analysts predict that TD SYNNEX Corporation will post 15.38 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, April 15th. TD SYNNEX's dividend payout ratio is presently 15.96%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 25,000 shares of the business's stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $160.67, for a total value of $4,016,750.00. Following the completion of the sale, the director directly owned 47,515 shares of the company's stock, valued at $7,634,235.05. The trade was a 34.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Merline Saintil sold 167 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total transaction of $26,344.25. Following the completion of the sale, the director directly owned 6,995 shares of the company's stock, valued at approximately $1,103,461.25. This trade represents a 2.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 82,165 shares of company stock worth $13,559,368 in the last three months. 0.70% of the stock is owned by insiders.

TD SYNNEX Company Profile

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.

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