Ruffer LLP Purchases 13,920 Shares of TD SYNNEX Corporation (NYSE:SNX)

Key Points

• Ruffer LLP increased its stake in TD SYNNEX Corporation by 16.1% during the first quarter, acquiring an additional 13,920 shares, bringing its total ownership to approximately 0.12% valued at $10.43 million.
• Insider trading activity saw Alim Dhanji sell 1,257 shares for over $179,000, while CFO Marshall Witt sold 1,509 shares for about $189,000, reflecting a 10.27% and 2.95% decline in their respective ownership positions.
• Brokerage firms have varied ratings on TD SYNNEX, with Loop Capital and JP Morgan raising their price targets to $160.00, while Wall Street Zen downgraded their rating from buy to hold.

Ruffer LLP grew its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 16.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,345 shares of the business services provider's stock after purchasing an additional 13,920 shares during the period. Ruffer LLP owned approximately 0.12% of TD SYNNEX worth $10,432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its position in TD SYNNEX by 9.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock worth $125,000 after acquiring an additional 90 shares during the period. Ellevest Inc. lifted its holdings in shares of TD SYNNEX by 3.9% during the 4th quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock valued at $280,000 after buying an additional 90 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of TD SYNNEX by 1.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock valued at $630,000 after buying an additional 94 shares during the last quarter. Utah Retirement Systems lifted its holdings in shares of TD SYNNEX by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock valued at $481,000 after buying an additional 100 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of TD SYNNEX by 0.6% during the 1st quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider's stock valued at $1,873,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock traded up $3.28 during midday trading on Friday, hitting $146.76. 242,304 shares of the company were exchanged, compared to its average volume of 807,971. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. The firm has a market cap of $12.10 billion, a P/E ratio of 17.14, a PEG ratio of 1.16 and a beta of 1.32. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $149.76. The firm has a 50 day simple moving average of $135.75 and a 200-day simple moving average of $128.16.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter last year, the company earned $2.73 EPS. TD SYNNEX's revenue was up 7.2% on a year-over-year basis. Research analysts forecast that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

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

Insider Buying and Selling at TD SYNNEX

In other news, insider Alim Dhanji sold 1,257 shares of the business'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 approximately $1,564,231.44. The trade was a 10.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the transaction, the chief financial officer owned 49,563 shares of the company's stock, valued at $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. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SNX shares. Wall Street Zen lowered TD SYNNEX from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Loop Capital boosted their price target on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. JPMorgan Chase & Co. increased their price objective on TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Barrington Research restated an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a report on Friday, July 11th. Finally, Bank of America boosted their target price on TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $149.30.

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.