Avnet, Inc. (NASDAQ:AVT) Stock Holdings Decreased by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its stake in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 32.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,099 shares of the company's stock after selling 15,181 shares during the quarter. BNP Paribas Financial Markets' holdings in Avnet were worth $1,743,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. TCW Group Inc. grew its position in Avnet by 72.5% during the second quarter. TCW Group Inc. now owns 58,611 shares of the company's stock valued at $3,018,000 after acquiring an additional 24,636 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Avnet by 8.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 159,985 shares of the company's stock worth $8,238,000 after purchasing an additional 12,238 shares during the period. Kendall Capital Management lifted its stake in shares of Avnet by 21.2% in the 2nd quarter. Kendall Capital Management now owns 118,843 shares of the company's stock valued at $6,119,000 after purchasing an additional 20,810 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Avnet by 46.8% during the 2nd quarter. Federated Hermes Inc. now owns 40,231 shares of the company's stock worth $2,071,000 after purchasing an additional 12,832 shares during the period. Finally, Great Lakes Advisors LLC increased its position in Avnet by 2,607.9% during the 2nd quarter. Great Lakes Advisors LLC now owns 163,449 shares of the company's stock worth $8,416,000 after purchasing an additional 157,413 shares in the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Trading Down 0.8 %

AVT stock traded down $0.46 during midday trading on Friday, reaching $54.21. 518,584 shares of the company's stock traded hands, compared to its average volume of 580,555. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07. Avnet, Inc. has a fifty-two week low of $43.62 and a fifty-two week high of $59.24. The business has a 50-day moving average price of $54.50 and a two-hundred day moving average price of $53.42. The company has a market capitalization of $4.71 billion, a P/E ratio of 14.19, a PEG ratio of 1.03 and a beta of 1.14.

Avnet (NASDAQ:AVT - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same quarter in the previous year, the business posted $1.61 EPS. The business's quarterly revenue was down 11.5% on a year-over-year basis. Equities research analysts forecast that Avnet, Inc. will post 4.09 EPS for the current fiscal year.

Avnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.43%. Avnet's payout ratio is currently 34.56%.

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.