Ruffer LLP Grows Stock Holdings in TD SYNNEX Corporation $SNX

Ruffer LLP raised its stake in TD SYNNEX Corporation (NYSE:SNX) by 35.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,770 shares of the business services provider’s stock after buying 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 filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SNX. M&T Bank Corp lifted its position in shares of TD SYNNEX by 876.4% in the 4th quarter. M&T Bank Corp now owns 34,837 shares of the business services provider’s stock worth $5,234,000 after purchasing an additional 31,269 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of TD SYNNEX by 44.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 67,521 shares of the business services provider’s stock worth $10,186,000 after purchasing an additional 20,815 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of TD SYNNEX by 2.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,884 shares of the business services provider’s stock worth $3,738,000 after purchasing an additional 591 shares during the period. Bayforest Capital Ltd lifted its position in shares of TD SYNNEX by 7.5% in the 4th quarter. Bayforest Capital Ltd now owns 2,401 shares of the business services provider’s stock worth $361,000 after purchasing an additional 168 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of TD SYNNEX in the 4th quarter worth approximately $330,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Down 1.2%

NYSE SNX opened at $215.20 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.41. The firm has a market cap of $17.30 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.10 and a beta of 1.23. The company has a 50 day moving average price of $171.32 and a 200 day moving average price of $160.04. TD SYNNEX Corporation has a 52 week low of $104.15 and a 52 week high of $220.90.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, topping the consensus estimate of $3.24 by $1.49. The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. TD SYNNEX’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.80 EPS. As a group, sell-side analysts forecast that TD SYNNEX Corporation will post 15.38 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

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

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Merline Saintil sold 167 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total transaction of $26,344.25. Following the transaction, the director owned 6,995 shares in the company, valued at approximately $1,103,461.25. This represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick Zammit sold 13,900 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $171.57, for a total transaction of $2,384,823.00. Following the transaction, the chief executive officer owned 170,928 shares in the company, valued at $29,326,116.96. The trade was a 7.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have 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 company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TD SYNNEX in a research report on Wednesday, January 21st. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. UBS Group upped their price target on shares of TD SYNNEX from $187.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group upped their price target on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Barclays boosted their price objective on shares of TD SYNNEX from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average price target of $186.50.

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.