Avnet, Inc. (NASDAQ:AVT) Shares Sold by Trexquant Investment LP

Trexquant Investment LP reduced its stake in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 90.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,406 shares of the company's stock after selling 214,203 shares during the quarter. Trexquant Investment LP's holdings in Avnet were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVT. Synergy Investment Management LLC acquired a new stake in shares of Avnet during the fourth quarter valued at $38,000. Principal Securities Inc. boosted its stake in shares of Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company's stock worth $72,000 after purchasing an additional 211 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Avnet by 1,768.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company's stock worth $113,000 after buying an additional 2,051 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Avnet by 18.6% in the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company's stock valued at $114,000 after buying an additional 341 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Avnet during the fourth quarter valued at approximately $146,000. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Stock Down 0.2 %

Shares of AVT traded down $0.11 during trading on Wednesday, reaching $46.33. The company's stock had a trading volume of 65,026 shares, compared to its average volume of 896,882. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average of $48.35 and a two-hundred day moving average of $51.82. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.13 and a beta of 1.04. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $59.24.

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Avnet (NASDAQ:AVT - Get Free Report) last released its earnings results 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 return on equity of 7.49% and a net margin of 1.41%. On average, sell-side analysts predict that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Wednesday, March 5th. Avnet's dividend payout ratio is presently 37.39%.

Analysts Set New Price Targets

A number of research firms have recently commented on AVT. Bank of America downgraded shares of Avnet from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $58.00 to $48.00 in a research note on Thursday, January 30th. Truist Financial reduced their price objective on Avnet from $54.00 to $52.00 and set a "hold" rating on the stock in a research note on Thursday, January 30th.

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.