Avnet, Inc. (NASDAQ:AVT) is Kendall Capital Management's 6th Largest Position

Kendall Capital Management increased its holdings in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,205 shares of the company's stock after acquiring an additional 6,200 shares during the period. Avnet makes up approximately 2.0% of Kendall Capital Management's portfolio, making the stock its 6th biggest holding. Kendall Capital Management owned 0.15% of Avnet worth $6,969,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Principal Securities Inc. increased its stake in Avnet by 18.2% in the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company's stock valued at $72,000 after purchasing an additional 211 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Avnet by 5.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company's stock worth $246,000 after buying an additional 222 shares in the last quarter. Highland Capital Management LLC grew its stake in Avnet by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 4,234 shares of the company's stock valued at $222,000 after acquiring an additional 261 shares during the last quarter. GAMMA Investing LLC increased its holdings in Avnet by 18.6% during the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company's stock valued at $114,000 after acquiring an additional 341 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its position in Avnet by 2.3% during the fourth quarter. Transcend Capital Advisors LLC now owns 16,652 shares of the company's stock worth $871,000 after acquiring an additional 381 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company's stock.

Remove Ads

Analyst Ratings Changes

AVT has been the topic of several research reports. Truist Financial lowered their price target on shares of Avnet from $54.00 to $52.00 and set a "hold" rating on the stock in a research report on Thursday, January 30th. Bank of America cut Avnet from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $58.00 to $48.00 in a report on Thursday, January 30th.

Avnet Trading Down 2.3 %

Shares of NASDAQ:AVT traded down $1.08 during trading on Wednesday, reaching $46.90. The stock had a trading volume of 1,098,154 shares, compared to its average volume of 629,249. Avnet, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $59.24. The business has a fifty day moving average price of $51.46 and a 200-day moving average price of $52.95. The stock has a market cap of $4.06 billion, a P/E ratio of 13.29, a PEG ratio of 1.13 and a beta of 1.09. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share 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%. As a group, analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.81%. The ex-dividend date is Wednesday, March 5th. Avnet's dividend payout ratio (DPR) 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.