Victory Capital Management Inc. lowered its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 241,850 shares of the company's stock after selling 59,239 shares during the period. Victory Capital Management Inc. owned about 0.28% of Avnet worth $12,654,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Synergy Investment Management LLC bought a new position in Avnet during the 4th quarter worth about $38,000. Principal Securities Inc. boosted its stake in shares of Avnet by 18.2% during the fourth 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. GAMMA Investing LLC increased its holdings in Avnet by 18.6% during 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 period. KBC Group NV raised its stake in Avnet by 55.7% in the fourth quarter. KBC Group NV now owns 3,356 shares of the company's stock worth $176,000 after buying an additional 1,200 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Avnet during the third quarter worth $209,000. 95.78% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on AVT. Truist Financial cut their target price on Avnet from $54.00 to $52.00 and set a "hold" rating on the stock in a research note on Thursday, January 30th. Bank of America downgraded Avnet from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th.
Get Our Latest Stock Analysis on Avnet
Avnet Trading Down 2.3 %
Shares of Avnet stock opened at $46.90 on Thursday. The firm's 50 day simple moving average is $51.35 and its two-hundred day simple moving average is $52.91. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.13 and a beta of 1.09. Avnet, Inc. has a 12-month low of $45.50 and a 12-month high of $59.24. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53.
Avnet (NASDAQ:AVT - Get Free Report) last released its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. Analysts predict that Avnet, Inc. will post 3.41 EPS for the current year.
Avnet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet's dividend payout ratio (DPR) is 37.39%.
About Avnet
(
Free Report)
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.
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