Principal Financial Group Inc. Has $76.82 Million Stock Holdings in TD SYNNEX Corporation (NYSE:SNX)

Principal Financial Group Inc. increased its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 17.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 738,895 shares of the business services provider's stock after acquiring an additional 108,432 shares during the quarter. Principal Financial Group Inc. owned about 0.88% of TD SYNNEX worth $76,816,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of TD SYNNEX in the 4th quarter valued at approximately $121,199,000. Nuveen Asset Management LLC raised its holdings in shares of TD SYNNEX by 343.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock valued at $141,913,000 after purchasing an additional 937,040 shares in the last quarter. LSV Asset Management boosted its holdings in shares of TD SYNNEX by 46.9% in the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock valued at $201,235,000 after acquiring an additional 547,692 shares in the last quarter. Brave Warrior Advisors LLC boosted its holdings in shares of TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock worth $486,380,000 after buying an additional 451,557 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of TD SYNNEX in the fourth quarter worth approximately $47,094,000. 84.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Barclays set a $140.00 target price on shares of TD SYNNEX in a research report on Tuesday, June 24th. The Goldman Sachs Group cut their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Wall Street Zen upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.56.

TD SYNNEX Stock Performance

Shares of SNX traded up $0.14 during mid-day trading on Wednesday, hitting $141.23. The stock had a trading volume of 190,882 shares, compared to its average volume of 736,737. The firm has a market cap of $11.65 billion, a P/E ratio of 16.49, a PEG ratio of 1.15 and a beta of 1.30. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $145.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. The business has a fifty day moving average price of $125.49 and a 200-day moving average price of $125.28.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business had revenue of $14.95 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the business earned $2.73 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, July 11th. TD SYNNEX's dividend payout ratio is currently 20.56%.

Insider Transactions at TD SYNNEX

In related news, CFO Marshall Witt sold 1,509 shares of TD SYNNEX stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the sale, the chief financial officer owned 49,563 shares of the company's stock, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the sale, the insider directly owned 14,883 shares in the company, valued at approximately $1,637,130. The trade was a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,819 shares of company stock worth $9,143,874. 1.00% of the stock is owned by insiders.

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.