Crossmark Global Holdings Inc. Has $12.15 Million Stake in Avnet, Inc. (NASDAQ:AVT)

Crossmark Global Holdings Inc. raised its stake in Avnet, Inc. (NASDAQ:AVT - Free Report) by 5.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 223,667 shares of the company's stock after purchasing an additional 12,448 shares during the quarter. Crossmark Global Holdings Inc. owned about 0.26% of Avnet worth $12,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AVT. Fifth Third Bancorp increased its position in shares of Avnet by 35.2% during the second quarter. Fifth Third Bancorp now owns 822 shares of the company's stock worth $42,000 after acquiring an additional 214 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Avnet in the 3rd quarter valued at approximately $51,000. nVerses Capital LLC purchased a new position in shares of Avnet during the 2nd quarter valued at approximately $77,000. Versant Capital Management Inc boosted its stake in shares of Avnet by 729.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,535 shares of the company's stock valued at $79,000 after buying an additional 1,350 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Avnet by 68.4% in the second quarter. GAMMA Investing LLC now owns 1,527 shares of the company's stock worth $79,000 after buying an additional 620 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Stock Performance

AVT stock traded down $0.57 during trading on Friday, reaching $56.56. 610,177 shares of the company's stock were exchanged, compared to its average volume of 654,222. Avnet, Inc. has a 1-year low of $43.62 and a 1-year high of $59.24. The firm has a market cap of $4.92 billion, a PE ratio of 14.81, a P/E/G ratio of 1.05 and a beta of 1.16. The company's fifty day moving average price is $53.60 and its 200-day moving average price is $53.03. The company has a quick ratio of 1.07, a current ratio of 2.25 and a debt-to-equity ratio of 0.48.

Avnet (NASDAQ:AVT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.06. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The business's revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter last year, the business earned $1.61 earnings per share. On average, research analysts expect that Avnet, Inc. will post 4.14 EPS for the current fiscal year.

Avnet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were given a $0.33 dividend. This is a positive change from Avnet's previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, September 11th. This represents a $1.32 annualized dividend and a yield of 2.33%. Avnet's payout ratio is 34.56%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AVT. Truist Financial boosted their price target on Avnet from $48.00 to $52.00 and gave the company a "hold" rating in a report on Friday, August 9th. Wells Fargo & Company raised their target price on Avnet from $40.00 to $45.00 and gave the company an "underweight" rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus upped their price target on shares of Avnet from $50.00 to $55.00 and gave the stock a "hold" rating in a research report on Friday, August 9th.

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.