Kensico Capital Management Corp Acquires Shares of 6,865,000 Symantec Corporation (SYMC)

Kensico Capital Management Corp acquired a new stake in Symantec Corporation (NASDAQ:SYMC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,865,000 shares of the technology company’s stock, valued at approximately $225,241,000. Symantec comprises about 3.4% of Kensico Capital Management Corp’s investment portfolio, making the stock its 11th largest holding. Kensico Capital Management Corp owned about 1.11% of Symantec at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its position in Symantec by 7.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after acquiring an additional 292 shares during the period. Sun Life Financial INC increased its position in Symantec by 44,100.0% in the 2nd quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after acquiring an additional 4,410 shares during the period. Harfst & Associates Inc. acquired a new position in Symantec in the 2nd quarter valued at approximately $127,000. Johnson Financial Group Inc. increased its position in Symantec by 6.2% in the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after acquiring an additional 325 shares during the period. Finally, United Bank Inc. acquired a new position in Symantec in the 3rd quarter valued at approximately $200,000. 95.02% of the stock is owned by institutional investors and hedge funds.

In other Symantec news, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $32.81, for a total value of $82,025.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anita M. Sands sold 2,000 shares of the firm’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $33.51, for a total transaction of $67,020.00. Following the completion of the transaction, the director now directly owns 37,386 shares in the company, valued at $1,252,804.86. The disclosure for this sale can be found here. Insiders sold 466,832 shares of company stock valued at $13,728,277 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Several equities analysts have issued reports on SYMC shares. Credit Suisse Group started coverage on shares of Symantec in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 price target for the company. Robert W. Baird restated a “hold” rating and issued a $32.00 price target on shares of Symantec in a research report on Friday, September 8th. Morgan Stanley decreased their price target on shares of Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, November 3rd. Moffett Nathanson assumed coverage on shares of Symantec in a research report on Wednesday, September 6th. They set a “neutral” rating and a $33.00 price objective for the company. Finally, CIBC reiterated an “outperform” rating and set a $33.00 price objective (down from $35.00) on shares of Symantec in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. Symantec presently has an average rating of “Hold” and an average target price of $32.39.

Shares of Symantec Corporation (NASDAQ:SYMC) opened at $27.98 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72. The company has a market cap of $17,086.71, a price-to-earnings ratio of 43.75, a price-to-earnings-growth ratio of 2.78 and a beta of 1.08. Symantec Corporation has a twelve month low of $23.77 and a twelve month high of $34.20.

Symantec (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Symantec had a negative net margin of 5.29% and a positive return on equity of 12.33%. The business’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period last year, the company posted $0.30 earnings per share. equities analysts predict that Symantec Corporation will post 1.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, November 17th. Symantec’s payout ratio is -75.00%.

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Symantec Profile

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.

Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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