Hodges Capital Management Inc. Increases Stock Holdings in Symbotic Inc. (NASDAQ:SYM)

Hodges Capital Management Inc. raised its stake in shares of Symbotic Inc. (NASDAQ:SYM) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 273,841 shares of the company’s stock after purchasing an additional 20,111 shares during the quarter. Hodges Capital Management Inc.’s holdings in Symbotic were worth $6,492,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SYM. Baillie Gifford & Co. raised its holdings in Symbotic by 32.0% in the third quarter. Baillie Gifford & Co. now owns 14,070,999 shares of the company’s stock worth $343,192,000 after purchasing an additional 3,410,050 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Symbotic by 76.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 873,987 shares of the company’s stock worth $21,317,000 after buying an additional 379,726 shares during the period. Millennium Management LLC increased its stake in shares of Symbotic by 6,694.5% in the 2nd quarter. Millennium Management LLC now owns 335,649 shares of the company’s stock worth $11,801,000 after acquiring an additional 330,709 shares in the last quarter. Thematics Asset Management lifted its position in Symbotic by 30.1% during the 3rd quarter. Thematics Asset Management now owns 1,048,170 shares of the company’s stock valued at $25,565,000 after acquiring an additional 242,661 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Symbotic by 1,273,060.0% in the third quarter. International Assets Investment Management LLC now owns 63,658 shares of the company’s stock worth $1,553,000 after purchasing an additional 63,653 shares during the period.

Insider Activity

In other Symbotic news, CFO Carol J. Hibbard sold 22,821 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $28.96, for a total value of $660,896.16. Following the sale, the chief financial officer now owns 34,188 shares in the company, valued at $990,084.48. The trade was a 40.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael David Dunn sold 63,867 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $30.08, for a total value of $1,921,119.36. Following the transaction, the insider now owns 24,055 shares of the company’s stock, valued at approximately $723,574.40. The trade was a 72.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,802 shares of company stock worth $3,305,187 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Symbotic Trading Down 1.6 %

Shares of NASDAQ:SYM opened at $29.35 on Monday. The stock has a 50 day moving average of $27.27 and a 200 day moving average of $27.01. Symbotic Inc. has a 12-month low of $17.11 and a 12-month high of $52.20.

Symbotic (NASDAQ:SYM) last announced its quarterly earnings data on Monday, November 18th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $576.77 million for the quarter, compared to the consensus estimate of $470.24 million. Symbotic had a negative net margin of 0.32% and a positive return on equity of 6.49%. The company’s revenue was up 47.2% on a year-over-year basis. During the same period last year, the firm earned ($0.08) EPS. As a group, research analysts expect that Symbotic Inc. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. TD Cowen lifted their target price on shares of Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. KeyCorp reissued a “sector weight” rating on shares of Symbotic in a report on Wednesday, November 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 target price on shares of Symbotic in a research note on Thursday, January 23rd. The Goldman Sachs Group dropped their price target on shares of Symbotic from $34.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 4th. Finally, UBS Group reduced their price objective on shares of Symbotic from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.73.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.