Principal Financial Group Inc. Purchases 108,432 Shares of TD SYNNEX Corporation (NYSE:SNX)

Principal Financial Group Inc. raised its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 738,895 shares of the business services provider's stock after buying an additional 108,432 shares during the quarter. Principal Financial Group Inc. owned 0.88% of TD SYNNEX worth $76,816,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after buying an additional 152 shares during the period. Versant Capital Management Inc increased its stake in shares of TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after purchasing an additional 183 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of TD SYNNEX by 196.5% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider's stock worth $59,000 after purchasing an additional 336 shares during the last quarter. Amundi increased its stake in shares of TD SYNNEX by 22.3% during the 4th quarter. Amundi now owns 560 shares of the business services provider's stock worth $66,000 after purchasing an additional 102 shares during the last quarter. Finally, State of Wyoming increased its stake in shares of TD SYNNEX by 51.9% during the 4th quarter. State of Wyoming now owns 594 shares of the business services provider's stock worth $70,000 after purchasing an additional 203 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Buying and Selling

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

TD SYNNEX Price Performance

Shares of NYSE:SNX traded up $0.93 during midday trading on Friday, reaching $140.21. 680,142 shares of the company's stock were exchanged, compared to its average volume of 741,544. The company's 50 day simple moving average is $124.32 and its two-hundred day simple moving average is $124.96. The firm has a market capitalization of $11.56 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $145.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26.

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

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, July 11th. TD SYNNEX's dividend payout ratio (DPR) is currently 20.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SNX shares. JPMorgan Chase & Co. dropped their price target on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Barclays set a $140.00 price target on shares of TD SYNNEX in a research note on Tuesday, June 24th. Loop Capital raised their target price on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Finally, The Goldman Sachs Group lowered their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.56.

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.