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

Ruffer LLP purchased a new position in shares of TD SYNNEX Co. (NYSE:SNX) during the fourth quarter, HoldingsChannel reports. The firm purchased 86,425 shares of the business services provider’s stock, valued at approximately $10,136,000.

A number of other hedge funds have also recently made changes to their positions in SNX. Arizona State Retirement System increased its holdings in shares of TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock worth $2,607,000 after purchasing an additional 78 shares in the last quarter. CIBC Asset Management Inc increased its position in TD SYNNEX by 3.4% in the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock worth $313,000 after buying an additional 86 shares in the last quarter. Amundi raised its position in shares of TD SYNNEX by 22.3% during the 4th quarter. Amundi now owns 560 shares of the business services provider’s stock valued at $66,000 after purchasing an additional 102 shares during the period. Atria Investments Inc lifted its holdings in TD SYNNEX by 4.1% in 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. Finally, Highland Capital Management LLC increased its stake in TD SYNNEX by 6.5% in the 4th quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock worth $223,000 after acquiring an additional 116 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

NYSE SNX opened at $129.29 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company has a market cap of $10.91 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.06 and a beta of 1.51. The stock has a 50-day moving average of $135.83 and a two-hundred day moving average of $124.88. TD SYNNEX Co. has a 1-year low of $102.23 and a 1-year high of $145.10.

TD SYNNEX Increases Dividend

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

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,172 shares of company stock valued at $6,342,766 in the last three months. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About TD SYNNEX

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.