Principal Financial Group Inc. Lowers Stake in TD SYNNEX Co. (NYSE:SNX)

Principal Financial Group Inc. lessened its stake in TD SYNNEX Co. (NYSE:SNX) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 630,463 shares of the business services provider’s stock after selling 48,204 shares during the period. Principal Financial Group Inc.’s holdings in TD SYNNEX were worth $73,942,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC grew its stake in TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 140 shares during the period. Point72 DIFC Ltd bought a new position in TD SYNNEX in the third quarter worth approximately $55,000. Blue Trust Inc. increased its holdings in TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after purchasing an additional 129 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in TD SYNNEX during the 3rd quarter valued at $58,000. Institutional investors own 84.00% of the company’s stock.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the sale, the chief financial officer now directly owns 48,362 shares in the company, valued at approximately $5,858,089.06. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,289 shares of company stock valued at $3,639,500 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Price Performance

NYSE SNX opened at $143.92 on Thursday. The firm’s fifty day simple moving average is $131.81 and its two-hundred day simple moving average is $122.94. The firm has a market capitalization of $12.14 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.07 and a beta of 1.49. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 12-month low of $99.95 and a 12-month high of $145.10.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.22%. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s payout ratio is 22.11%.

Analyst Ratings Changes

SNX has been the topic of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Wednesday, January 15th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th. JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 15th. Finally, Barclays upped their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.38.

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.