Meadow Creek Investment Management LLC Has $2.60 Million Position in Symantec Co. (SYMC)

Meadow Creek Investment Management LLC increased its position in shares of Symantec Co. (NASDAQ:SYMC) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,718 shares of the technology company’s stock after purchasing an additional 5,134 shares during the period. Meadow Creek Investment Management LLC’s holdings in Symantec were worth $2,601,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYMC. Delpha Capital Management LLC acquired a new position in Symantec during the fourth quarter worth about $162,000. Genesee Valley Trust Co. acquired a new position in Symantec during the fourth quarter worth about $209,000. Lenox Wealth Advisors Inc. acquired a new position in Symantec during the fourth quarter worth about $224,000. Reilly Financial Advisors LLC grew its position in Symantec by 223.5% during the fourth quarter. Reilly Financial Advisors LLC now owns 8,412 shares of the technology company’s stock worth $236,000 after buying an additional 5,812 shares during the period. Finally, MUFG Americas Holdings Corp acquired a new position in Symantec during the third quarter worth about $248,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

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Shares of Symantec Co. (NASDAQ:SYMC) opened at $27.37 on Friday. The company has a market cap of $17,011.52, a P/E ratio of 34.65, a PEG ratio of 3.13 and a beta of 0.89. Symantec Co. has a 1 year low of $24.94 and a 1 year high of $34.20. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.15 and a quick ratio of 1.15.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.27 billion. Symantec had a net margin of 22.24% and a return on equity of 14.26%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. sell-side analysts predict that Symantec Co. will post 0.99 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 14th. Investors of record on Tuesday, February 20th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, February 16th. Symantec’s payout ratio is 19.48%.

Several brokerages have weighed in on SYMC. Robert W. Baird restated a “hold” rating on shares of Symantec in a research report on Thursday, February 1st. Evercore ISI restated a “hold” rating and set a $25.00 target price on shares of Symantec in a research report on Thursday, February 1st. BidaskClub upgraded shares of Symantec from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 3rd. Cowen restated a “sell” rating and set a $26.00 target price on shares of Symantec in a research report on Thursday, February 1st. Finally, Jefferies Group lowered shares of Symantec from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $30.00 to $23.00 in a research report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company. Symantec currently has a consensus rating of “Hold” and an average target price of $30.87.

In related news, EVP Francis C. Rosch sold 51,899 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $26.59, for a total transaction of $1,379,994.41. Following the transaction, the executive vice president now owns 213,026 shares of the company’s stock, valued at $5,664,361.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Suzanne M. Vautrinot sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $27.72, for a total transaction of $110,880.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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About Symantec

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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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