As Symantec Corp (SYMC) Valuation Declined, Minneapolis Portfolio Management Group LLC Has Decreased by $8.08 Million Its Position

May 21, 2018 - By Henry Gaston

Symantec Corporation (NASDAQ:SYMC) LogoInvestors sentiment increased to 0.92 in 2017 Q4. Its up 0.06, from 0.86 in 2017Q3. It is positive, as 56 investors sold SYMC shares while 144 reduced holdings. 45 funds opened positions while 139 raised stakes. 548.16 million shares or 4.09% less from 571.53 million shares in 2017Q3 were reported. State Of Wisconsin Board holds 543,599 shares. Arizona State Retirement System has 0.09% invested in Symantec Corporation (NASDAQ:SYMC) for 316,279 shares. National Pension Service has invested 0.09% in Symantec Corporation (NASDAQ:SYMC). Tower Rech Capital Ltd (Trc) has invested 0.03% in Symantec Corporation (NASDAQ:SYMC). 28,850 are held by New England Management. Strs Ohio holds 0.01% in Symantec Corporation (NASDAQ:SYMC) or 45,553 shares. Everence Capital Mgmt accumulated 13,164 shares. Geode Capital Limited, a Massachusetts-based fund reported 6.82M shares. Dekabank Deutsche Girozentrale reported 55,442 shares or 0.01% of all its holdings. Moreover, Profit Inv Limited Liability Corp has 0.24% invested in Symantec Corporation (NASDAQ:SYMC) for 11,097 shares. Livforsakringsbolaget Skandia Omsesidigt invested in 0.03% or 9,345 shares. San Francisco Sentry Invest Grp (Ca) reported 0% stake. 5,785 were accumulated by Tci Wealth Advsrs Inc. Mason Street Advisors Ltd Co stated it has 86,358 shares. Fiduciary Trust Co reported 0.03% in Symantec Corporation (NASDAQ:SYMC).

Since March 5, 2018, it had 0 insider buys, and 3 sales for $2.63 million activity. Rosch Francis C had sold 51,899 shares worth $1.38M on Monday, March 5. $1.14 million worth of stock was sold by TAYLOR SCOTT C on Monday, April 16.

Minneapolis Portfolio Management Group Llc decreased its stake in Symantec Corp (SYMC) by 25.29% based on its latest 2017Q4 regulatory filing with the SEC. Minneapolis Portfolio Management Group Llc sold 288,682 shares as the company’s stock declined 9.92% with the market. The institutional investor held 852,670 shares of the prepackaged software company at the end of 2017Q4, valued at $23.93M, down from 1.14M at the end of the previous reported quarter. Minneapolis Portfolio Management Group Llc who had been investing in Symantec Corp for a number of months, seems to be less bullish one the $13.40B market cap company. The stock decreased 2.86% or $0.635 during the last trading session, reaching $21.555. About 8.19 million shares traded. Symantec Corporation (NASDAQ:SYMC) has declined 16.28% since May 21, 2017 and is downtrending. It has underperformed by 27.83% the S&P500.

Analysts await Symantec Corporation (NASDAQ:SYMC) to report earnings on August, 1. They expect $0.34 earnings per share, up 126.67 % or $0.19 from last year’s $0.15 per share. SYMC’s profit will be $211.32M for 15.85 P/E if the $0.34 EPS becomes a reality. After $0.26 actual earnings per share reported by Symantec Corporation for the previous quarter, Wall Street now forecasts 30.77 % EPS growth.

More notable recent Symantec Corporation (NASDAQ:SYMC) news were published by: Businesswire.com which released: “SYMC INVESTOR ALERT: Law Offices of Howard G. Smith Continues Investigation on Behalf of Symantec Corporation …” on May 20, 2018, also Seekingalpha.com with their article: “Symantec: A Risky Hold Through Earnings” published on May 06, 2018, Seekingalpha.com published: “Symantec: Parsing The Details” on May 15, 2018. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: Businesswire.com and their article: “Norton by Symantec to Release Fast, Secure Connected Home Wi-Fi Router in Australia” published on May 21, 2018 as well as Fool.com‘s news article titled: “Is Symantec a Broken Company or a Broken Stock?” with publication date: May 17, 2018.

Symantec Corporation (NASDAQ:SYMC) Ratings Coverage

Among 17 analysts covering Symantec (NASDAQ:SYMC), 2 have Buy rating, 2 Sell and 13 Hold. Therefore 12% are positive. Symantec had 20 analyst reports since December 19, 2017 according to SRatingsIntel. The stock of Symantec Corporation (NASDAQ:SYMC) earned “Underperform” rating by Jefferies on Thursday, January 18. The rating was downgraded by Credit Suisse to “Hold” on Monday, January 22. On Thursday, February 1 the stock rating was maintained by Barclays Capital with “Overweight”. As per Friday, May 11, the company rating was downgraded by Barclays Capital. The firm earned “Underperform” rating on Thursday, February 1 by Bank of America. The stock of Symantec Corporation (NASDAQ:SYMC) earned “Neutral” rating by BTIG Research on Friday, May 11. The stock of Symantec Corporation (NASDAQ:SYMC) has “Buy” rating given on Wednesday, January 31 by Piper Jaffray. The firm has “Market Perform” rating given on Friday, April 27 by JMP Securities. The firm has “Hold” rating given on Thursday, February 1 by Stephens. The stock of Symantec Corporation (NASDAQ:SYMC) has “Buy” rating given on Friday, April 6 by Standpoint Research.

Symantec Corporation (NASDAQ:SYMC) Institutional Positions Chart

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