Principal Financial Group Inc. Grows Stake in TD SYNNEX Corporation $SNX

Principal Financial Group Inc. grew its stake in shares of TD SYNNEX Corporation (NYSE:SNX) by 8.1% in the first quarter, Holdings Channel reports. The fund owned 684,004 shares of the business services provider’s stock after acquiring an additional 51,303 shares during the quarter. Principal Financial Group Inc.’s holdings in TD SYNNEX were worth $115,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in TD SYNNEX by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock valued at $1,749,000 after purchasing an additional 1,460 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in TD SYNNEX by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock valued at $18,631,000 after purchasing an additional 9,815 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in TD SYNNEX by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock worth $21,226,000 after buying an additional 12,615 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of TD SYNNEX in the second quarter valued at $818,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of TD SYNNEX by 17.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock valued at $116,000 after buying an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Down 1.2%

Shares of NYSE SNX opened at $249.86 on Thursday. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. The company has a market cap of $19.98 billion, a P/E ratio of 17.89, a P/E/G ratio of 0.71 and a beta of 1.43. TD SYNNEX Corporation has a 52 week low of $139.23 and a 52 week high of $296.47. The business has a 50-day simple moving average of $257.06 and a two-hundred day simple moving average of $201.41.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The firm had revenue of $19.57 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same period in the prior year, the business posted $2.99 earnings per share. The company’s revenue was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Research analysts anticipate that TD SYNNEX Corporation will post 18.02 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, July 17th. TD SYNNEX’s dividend payout ratio is 13.74%.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $242.97, for a total value of $1,214,850.00. Following the sale, the director directly owned 18,537 shares in the company, valued at $4,503,934.89. This represents a 21.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 20,000 shares of company stock worth $4,933,700. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SNX. Barclays lifted their price objective on TD SYNNEX from $237.00 to $278.00 and gave the stock an “equal weight” rating in a report on Thursday, July 2nd. UBS Group increased their target price on shares of TD SYNNEX from $310.00 to $352.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. The Goldman Sachs Group set a $330.00 target price on shares of TD SYNNEX in a research note on Friday, June 26th. Morgan Stanley upped their price target on shares of TD SYNNEX from $341.00 to $374.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Barrington Research raised their price objective on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, TD SYNNEX has a consensus rating of “Buy” and an average target price of $294.67.

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.