CI Global Investments Inc. Has $326.23 Million Position in Symantec Corporation (SYMC)
CI Global Investments Inc. increased its stake in Symantec Corporation (NASDAQ:SYMC) by 50.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,942,972 shares of the technology company’s stock after purchasing an additional 3,338,984 shares during the period. Symantec Corporation accounts for about 6.5% of CI Global Investments Inc.’s portfolio, making the stock its 3rd largest position. CI Global Investments Inc. owned about 1.60% of Symantec Corporation worth $326,229,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Strategy Asset Managers LLC acquired a new stake in Symantec Corporation during the 3rd quarter valued at approximately $2,935,000. Toronto Dominion Bank lifted its stake in Symantec Corporation by 12.8% during the 3rd quarter. Toronto Dominion Bank now owns 281,689 shares of the technology company’s stock valued at $9,245,000 after acquiring an additional 31,936 shares during the period. CI Investments Inc. lifted its stake in Symantec Corporation by 78.1% during the 3rd quarter. CI Investments Inc. now owns 5,179,891 shares of the technology company’s stock valued at $169,952,000 after acquiring an additional 2,271,520 shares during the period. New York State Common Retirement Fund lifted its stake in Symantec Corporation by 1.4% during the 3rd quarter. New York State Common Retirement Fund now owns 1,422,288 shares of the technology company’s stock valued at $46,665,000 after acquiring an additional 20,328 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in Symantec Corporation by 1.1% during the 3rd quarter. Retirement Systems of Alabama now owns 298,145 shares of the technology company’s stock valued at $9,782,000 after acquiring an additional 3,236 shares during the period. Institutional investors own 90.39% of the company’s stock.
Symantec Corporation (NASDAQ:SYMC) traded down $0.39 during trading on Tuesday, hitting $27.97. 4,691,200 shares of the stock were exchanged, compared to its average volume of 6,822,890. Symantec Corporation has a fifty-two week low of $23.20 and a fifty-two week high of $34.20. The stock has a market capitalization of $17,280.00, a price-to-earnings ratio of 45.02, a price-to-earnings-growth ratio of 2.86 and a beta of 1.12. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.12 and a quick ratio of 1.12.
Symantec Corporation (NASDAQ:SYMC) last released its earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.14. Symantec Corporation had a negative net margin of 5.29% and a positive return on equity of 12.33%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. equities analysts expect that Symantec Corporation will post 1.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 20th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, November 17th. Symantec Corporation’s payout ratio is -51.72%.
In other news, CFO Nicholas R. Noviello sold 375,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $29.38, for a total transaction of $11,017,500.00. Following the completion of the sale, the chief financial officer now owns 565,319 shares of the company’s stock, valued at $16,609,072.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $32.81, for a total transaction of $82,025.00. The disclosure for this sale can be found here. Insiders have sold 671,985 shares of company stock valued at $20,028,343 in the last ninety days. Insiders own 1.30% of the company’s stock.
Several analysts have commented on SYMC shares. Evercore ISI set a $25.00 price objective on shares of Symantec Corporation and gave the company a “hold” rating in a research note on Thursday, August 3rd. CIBC restated an “outperform” rating and set a $33.00 price objective (down from $35.00) on shares of Symantec Corporation in a research note on Thursday, November 2nd. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a research note on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and set a $27.00 price objective on shares of Symantec Corporation in a research note on Friday, November 3rd. Finally, Credit Suisse Group initiated coverage on shares of Symantec Corporation in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company’s stock. Symantec Corporation currently has an average rating of “Hold” and an average price target of $32.39.
Symantec Corporation Company 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.
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