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

Principal Financial Group Inc. decreased its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 4.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 678,667 shares of the business services provider's stock after selling 30,435 shares during the period. Principal Financial Group Inc. owned about 0.80% of TD SYNNEX worth $81,494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in TD SYNNEX by 70.4% in the first quarter. BNP Paribas Financial Markets now owns 29,735 shares of the business services provider's stock valued at $3,363,000 after acquiring an additional 12,289 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in TD SYNNEX in the 1st quarter worth approximately $1,008,000. Daiwa Securities Group Inc. bought a new stake in TD SYNNEX in the 1st quarter worth approximately $68,000. Texas Permanent School Fund Corp boosted its stake in TD SYNNEX by 12.7% in the first quarter. Texas Permanent School Fund Corp now owns 49,923 shares of the business services provider's stock worth $5,646,000 after buying an additional 5,614 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in TD SYNNEX by 1,321.7% during the first quarter. SG Americas Securities LLC now owns 66,704 shares of the business services provider's stock valued at $7,544,000 after acquiring an additional 62,012 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Activity

In related news, insider Simon Leung sold 6,249 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now directly owns 23,339 shares of the company's stock, valued at $2,874,664.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider David R. Vetter sold 20,000 shares of the business's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $123.14, for a total value of $2,462,800.00. Following the sale, the insider now directly owns 66,381 shares of the company's stock, valued at $8,174,156.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Simon Leung sold 6,249 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now directly owns 23,339 shares of the company's stock, valued at approximately $2,874,664.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,645 shares of company stock worth $8,414,329 in the last quarter. 1.90% of the stock is owned by company insiders.

TD SYNNEX Trading Up 0.8 %

Shares of SNX stock traded up $0.96 during trading hours on Friday, reaching $125.79. The company's stock had a trading volume of 512,339 shares, compared to its average volume of 609,490. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $10.70 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.27 and a beta of 1.48. The firm's fifty day simple moving average is $118.08 and its 200 day simple moving average is $119.72. TD SYNNEX Co. has a one year low of $92.66 and a one year high of $133.85.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.80 by $0.06. The business had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 EPS. Equities research analysts expect that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.27%. TD SYNNEX's dividend payout ratio (DPR) is 20.70%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SNX. Barrington Research reaffirmed an "outperform" rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Barclays raised their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a research note on Friday, September 27th. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, August 16th. Loop Capital reaffirmed a "buy" rating and issued a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, TD SYNNEX has a consensus rating of "Moderate Buy" and a consensus price target of $134.75.

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.