Avnet, Inc. (NASDAQ:AVT) Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC grew its position in Avnet, Inc. (NASDAQ:AVT - Free Report) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 733,566 shares of the company's stock after purchasing an additional 17,685 shares during the quarter. William Blair Investment Management LLC owned about 0.85% of Avnet worth $38,380,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AVT. Pacer Advisors Inc. grew its position in Avnet by 11,848.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company's stock worth $148,623,000 after purchasing an additional 2,816,889 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Avnet during the fourth quarter valued at $32,676,000. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Avnet by 204.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company's stock valued at $37,489,000 after buying an additional 463,660 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Avnet by 227.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company's stock valued at $11,197,000 after acquiring an additional 148,588 shares during the period. Finally, FMR LLC raised its stake in Avnet by 24.7% in the 3rd quarter. FMR LLC now owns 576,794 shares of the company's stock worth $31,326,000 after acquiring an additional 114,217 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

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Avnet Stock Performance

AVT stock traded down $1.16 during midday trading on Friday, hitting $46.99. 7,683,702 shares of the stock traded hands, compared to its average volume of 653,544. The stock's fifty day simple moving average is $50.89 and its 200-day simple moving average is $52.64. The firm has a market cap of $4.06 billion, a P/E ratio of 13.31, a PEG ratio of 1.13 and a beta of 1.09. Avnet, Inc. has a 1-year low of $46.24 and a 1-year high of $59.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15.

Avnet (NASDAQ:AVT - Get Free Report) last announced 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, analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.33 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.81%. Avnet's dividend payout ratio (DPR) is presently 37.39%.

Analyst Upgrades and Downgrades

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