Principal Financial Group Inc. Sells 30,435 Shares of TD SYNNEX Co. (NYSE:SNX)

Principal Financial Group Inc. trimmed its holdings in TD SYNNEX Co. (NYSE:SNX) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,667 shares of the business services provider’s stock after selling 30,435 shares during the quarter. Principal Financial Group Inc. owned about 0.80% of TD SYNNEX worth $81,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. bought a new position in TD SYNNEX during the 2nd quarter valued at approximately $242,000. Blue Trust Inc. boosted its stake in TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares in the last quarter. Fifth Third Bancorp grew its position in TD SYNNEX by 11.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 106 shares during the last quarter. New York State Teachers Retirement System increased its stake in TD SYNNEX by 12.1% during the 2nd quarter. New York State Teachers Retirement System now owns 78,177 shares of the business services provider’s stock valued at $9,022,000 after purchasing an additional 8,430 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in TD SYNNEX by 33.9% in the second quarter. Retirement Systems of Alabama now owns 95,918 shares of the business services provider’s stock worth $11,069,000 after buying an additional 24,287 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on SNX. Loop Capital reissued a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. Barclays increased their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Barrington Research reiterated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

Insider Activity

In other news, insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the sale, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. This trade represents a 10.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 48,362 shares in the company, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,155 shares of company stock worth $8,598,095 in the last three months. Company insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Down 0.5 %

Shares of SNX stock opened at $116.90 on Friday. The company has a 50 day simple moving average of $120.19 and a two-hundred day simple moving average of $118.96. The stock has a market cap of $9.95 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.14 and a beta of 1.47. TD SYNNEX Co. has a 12 month low of $98.70 and a 12 month high of $133.85. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The company had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same period last year, the firm earned $2.71 EPS. TD SYNNEX’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.37%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

TD SYNNEX 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.