Jane Street Group LLC Trims Stake in Avnet, Inc. (NASDAQ:AVT)

Jane Street Group LLC decreased its holdings in Avnet, Inc. (NASDAQ:AVT - Free Report) by 71.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,116 shares of the company's stock after selling 32,349 shares during the period. Jane Street Group LLC's holdings in Avnet were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AVT. FMR LLC lifted its position 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. Envestnet Asset Management Inc. lifted its position in Avnet by 8.3% during the second quarter. Envestnet Asset Management Inc. now owns 159,985 shares of the company's stock valued at $8,238,000 after acquiring an additional 12,238 shares during the last quarter. Federated Hermes Inc. boosted its stake in Avnet by 46.8% in the second quarter. Federated Hermes Inc. now owns 40,231 shares of the company's stock valued at $2,071,000 after acquiring an additional 12,832 shares in the last quarter. Kendall Capital Management grew its holdings in Avnet by 21.2% in the second quarter. Kendall Capital Management now owns 118,843 shares of the company's stock worth $6,119,000 after purchasing an additional 20,810 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its position in shares of Avnet by 2,607.9% during the second 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. Hedge funds and other institutional investors own 95.78% of the company's stock.

Avnet Stock Performance

AVT stock traded up $0.41 during trading on Friday, reaching $52.08. The company had a trading volume of 495,172 shares, compared to its average volume of 484,636. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. Avnet, Inc. has a twelve month low of $43.62 and a twelve month high of $59.24. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. The firm has a 50-day simple moving average of $54.05 and a 200-day simple moving average of $53.32.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.06. The firm 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 quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 earnings per share. As a group, sell-side analysts expect that Avnet, Inc. will post 4.09 earnings per share for the current year.

Avnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.53%. The ex-dividend date was Wednesday, December 4th. Avnet's payout ratio is 34.55%.

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.