Matterhorn Capital Management buys $6,879,486 stake in Symantec Corporation (SYMC)

Symantec Corporation (SYMC) : Matterhorn Capital Management scooped up 122,406 additional shares in Symantec Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 329,162 shares of Symantec Corporation which is valued at $6,879,486.Symantec Corporation makes up approximately 4.28% of Matterhorn Capital Management’s portfolio.

Other Hedge Funds, Including , Cibc Asset Management Inc reduced its stake in SYMC by selling 3,249 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 92,176 shares of SYMC which is valued at $1,926,478. Symantec Corporation makes up approx 0.01% of Cibc Asset Management Inc’s portfolio.California State Teachers Retirement System reduced its stake in SYMC by selling 155,860 shares or 10.48% in the most recent quarter. The Hedge Fund company now holds 1,331,219 shares of SYMC which is valued at $27,822,477. Symantec Corporation makes up approx 0.06% of California State Teachers Retirement System’s portfolio.Beutel Goodman Co Ltd. boosted its stake in SYMC in the latest quarter, The investment management firm added 709,147 additional shares and now holds a total of 7,988,451 shares of Symantec Corporation which is valued at $165,360,936. Symantec Corporation makes up approx 1.67% of Beutel Goodman Co Ltd.’s portfolio.

Symantec Corporation closed down -0.105 points or -0.48% at $21.78 with 97,62,661 shares getting traded on Monday. Post opening the session at $21.75, the shares hit an intraday low of $21.67 and an intraday high of $22.14 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Symantec Corporation reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $884.00 million for the quarter, compared to analysts expectations of $877.37 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Symantec Corporation. Company shares were Reiterated by Wunderlich on Aug 5, 2016 to “Hold”, Firm has raised the Price Target to $ 23 from a previous price target of $19 .Company shares were Reiterated by RBC Capital Mkts on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 25 from a previous price target of $24 .Company shares were Reiterated by Jefferies on Aug 2, 2016 to “Hold”, Firm has raised the Price Target to $ 20 from a previous price target of $17 .

Symantec Corporation provides security backup and availability solutions. The Company operates in three segments: Consumer Security Enterprise Security and Information Management. The Company’s products and services offer protection of information in any environment from the mobile device to the enterprise data center to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions application bug fixes and patches for its consumer product. The Company’s enterprise security support program offers annual maintenance support contracts including content upgrades and technical support. The Company’s Consumer Security segment offers Norton-branded services which provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals families and small businesses.

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