Principal Financial Group Inc. Sells 48,204 Shares of TD SYNNEX Co. (NYSE:SNX)

Principal Financial Group Inc. decreased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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. owned 0.74% of TD SYNNEX worth $73,942,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on SNX. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 15th. Barclays upped their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price objective 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. Finally, Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average price target of $144.38.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction 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 completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,289 shares of company stock worth $3,639,500. 1.90% of the stock is currently owned by company insiders.

TD SYNNEX Stock Down 0.5 %

Shares of NYSE SNX opened at $143.92 on Thursday. 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. The firm’s 50-day moving average price is $131.81 and its 200-day moving average price is $122.94. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.07 and a beta of 1.49.

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 represents a $1.76 annualized dividend and a dividend yield of 1.22%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

TD SYNNEX Company 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.