Cookson Peirce & Co. Inc. Has $579,000 Holdings in Avnet, Inc. (NASDAQ:AVT)

Cookson Peirce & Co. Inc. raised its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 34.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,073 shares of the company’s stock after buying an additional 2,808 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Avnet were worth $579,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AVT. Principal Securities Inc. raised its stake in shares of Avnet by 18.2% in 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. Coldstream Capital Management Inc. raised its stake in shares of Avnet by 5.1% in the third quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock valued at $246,000 after purchasing an additional 222 shares in the last quarter. Highland Capital Management LLC raised its stake in shares of Avnet by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 4,234 shares of the company’s stock valued at $222,000 after purchasing an additional 261 shares in the last quarter. GAMMA Investing LLC raised its stake 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 purchasing an additional 341 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its stake in shares of Avnet by 2.3% in the fourth quarter. Transcend Capital Advisors LLC now owns 16,652 shares of the company’s stock valued at $871,000 after purchasing an additional 381 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Stock Performance

Avnet stock opened at $49.09 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The stock has a fifty day moving average price of $51.74 and a two-hundred day moving average price of $53.13. Avnet, Inc. has a 52-week low of $45.50 and a 52-week high of $59.24. The firm has a market capitalization of $4.25 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT) last released its quarterly earnings data 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 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 EPS for the current fiscal year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Wednesday, March 5th. Avnet’s payout ratio is presently 37.39%.

Analysts Set New Price Targets

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

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.