American Century Companies Inc. Acquires 72,715 Shares of Avnet, Inc. (NASDAQ:AVT)

American Century Companies Inc. lifted its stake in Avnet, Inc. (NASDAQ:AVT - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,502,425 shares of the company's stock after acquiring an additional 72,715 shares during the quarter. American Century Companies Inc. owned approximately 4.05% of Avnet worth $183,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AVT. Harvest Fund Management Co. Ltd grew its stake in Avnet by 1,768.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company's stock valued at $113,000 after buying an additional 2,051 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Avnet by 14.7% during the fourth quarter. Xponance Inc. now owns 13,621 shares of the company's stock worth $713,000 after acquiring an additional 1,744 shares during the period. Boston Partners grew its position in shares of Avnet by 5.2% in the fourth quarter. Boston Partners now owns 855,519 shares of the company's stock valued at $45,096,000 after purchasing an additional 42,302 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Avnet by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 733,566 shares of the company's stock worth $38,380,000 after purchasing an additional 17,685 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in Avnet by 4.5% during the 4th quarter. Corient Private Wealth LLC now owns 60,038 shares of the company's stock worth $3,139,000 after purchasing an additional 2,579 shares during the last quarter. Institutional investors own 95.78% of the company's stock.

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Analysts Set New Price Targets

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

Avnet Trading Down 1.1 %

Shares of Avnet stock traded down $0.54 on Thursday, hitting $47.97. 717,481 shares of the company's stock traded hands, compared to its average volume of 657,763. Avnet, Inc. has a one year low of $46.24 and a one year high of $59.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. The company has a fifty day moving average of $50.61 and a two-hundred day moving average of $52.53.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. As a group, sell-side analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.32 annualized dividend and a yield of 2.75%. Avnet's payout ratio is 37.39%.

Avnet 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.