Avnet, Inc. (NASDAQ:AVT) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. grew its position in Avnet, Inc. (NASDAQ:AVT) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,502,425 shares of the company’s stock after acquiring an additional 72,715 shares during the quarter. American Century Companies Inc. owned about 4.05% of Avnet worth $183,247,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AVT. Natixis Advisors LLC boosted its holdings in shares of Avnet by 10.1% in the third quarter. Natixis Advisors LLC now owns 14,243 shares of the company’s stock valued at $774,000 after acquiring an additional 1,302 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of Avnet by 1.5% during the third quarter. Pathstone Holdings LLC now owns 51,247 shares of the company’s stock worth $2,783,000 after purchasing an additional 769 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of Avnet during the third quarter worth $209,000. FMR LLC lifted its holdings in shares of Avnet by 24.7% during the third quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after purchasing an additional 114,217 shares during the period. Finally, CreativeOne Wealth LLC lifted its holdings in shares of Avnet by 21.7% during the third quarter. CreativeOne Wealth LLC now owns 7,979 shares of the company’s stock worth $433,000 after purchasing an additional 1,421 shares during the period. 95.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $58.00 to $48.00 in a report on Thursday, January 30th. Truist Financial decreased their price target on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, January 30th.

Avnet Trading Down 2.4 %

NASDAQ:AVT opened at $46.99 on Friday. The stock has a fifty day moving average price of $50.80 and a two-hundred day moving average price of $52.59. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.13 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. Avnet, Inc. has a 1 year low of $46.24 and a 1 year high of $59.24.

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, sell-side analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Wednesday, March 5th. Avnet’s dividend payout ratio is currently 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.