TD SYNNEX Co. (NYSE:SNX) Position Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 630,463 shares of the business services provider's stock after selling 48,204 shares during the quarter. Principal Financial Group Inc. owned approximately 0.74% of TD SYNNEX worth $73,942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC boosted its stake in TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock valued at $27,000 after acquiring an additional 176 shares during the period. UMB Bank n.a. grew its stake in TD SYNNEX by 48.4% during the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock worth $50,000 after buying an additional 140 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in TD SYNNEX in the third quarter worth $55,000. Blue Trust Inc. lifted its stake in TD SYNNEX by 37.7% in the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after buying an additional 129 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of TD SYNNEX during the third quarter valued at $58,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Insiders Place Their Bets

In related news, CFO Marshall Witt sold 1,510 shares of the company'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 transaction, the chief financial officer now directly owns 48,362 shares of the company's stock, valued at approximately $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 29,289 shares of company stock worth $3,639,500 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SNX. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price target for the company from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada boosted their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday. StockNews.com raised TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, February 15th. Barclays increased their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, TD SYNNEX has a consensus rating of "Moderate Buy" and an average target price of $147.50.

TD SYNNEX Price Performance

Shares of NYSE SNX traded down $2.44 during mid-day trading on Friday, reaching $140.86. The company had a trading volume of 118,077 shares, compared to its average volume of 641,153. TD SYNNEX Co. has a 1-year low of $101.21 and a 1-year high of $145.10. The stock has a market cap of $11.88 billion, a PE ratio of 17.72, 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. The company has a 50-day moving average price of $132.19 and a two-hundred day moving average price of $123.08.

TD SYNNEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.25%. TD SYNNEX's dividend payout ratio is currently 22.11%.

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.