AGF Management Ltd. Sells 12,505 Shares of Avnet, Inc. (NASDAQ:AVT)

AGF Management Ltd. lowered its stake in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,466 shares of the company's stock after selling 12,505 shares during the quarter. AGF Management Ltd. owned 0.05% of Avnet worth $2,483,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in shares of Avnet by 11,848.6% during the fourth quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company's stock worth $148,623,000 after acquiring an additional 2,816,889 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Avnet in the 4th quarter worth $32,676,000. Hotchkis & Wiley Capital Management LLC lifted its stake in Avnet by 204.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company's stock worth $37,489,000 after purchasing an additional 463,660 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Avnet by 227.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company's stock valued at $11,197,000 after buying an additional 148,588 shares during the period. Finally, FMR LLC grew its stake in shares of Avnet by 24.7% during the third quarter. FMR LLC now owns 576,794 shares of the company's stock valued at $31,326,000 after buying an additional 114,217 shares during the last quarter. 95.78% of the stock is owned by institutional investors.

Avnet Trading Up 0.9 %

AVT traded up $0.44 during midday trading on Monday, reaching $48.23. 587,229 shares of the company's stock traded hands, compared to its average volume of 625,479. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 1.13 and a beta of 1.09. Avnet, Inc. has a 52 week low of $45.50 and a 52 week high of $59.24. The firm has a fifty day moving average of $51.17 and a two-hundred day moving average of $52.79. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15.

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Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.88 by ($0.01). Avnet had a return on equity of 7.49% and a net margin of 1.41%. On average, equities analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Wednesday, March 5th. Avnet's dividend payout ratio is currently 37.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AVT shares. Truist Financial dropped their target price on Avnet from $54.00 to $52.00 and set a "hold" rating for the company in a report on Thursday, January 30th. Bank of America downgraded shares of Avnet from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th.

Avnet Company Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.