Xponance Inc. Grows Position in Avnet, Inc. (NASDAQ:AVT)

Xponance Inc. boosted its position in Avnet, Inc. (NASDAQ:AVT) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,621 shares of the company’s stock after purchasing an additional 1,744 shares during the quarter. Xponance Inc.’s holdings in Avnet were worth $713,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in shares of Avnet by 11,848.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock worth $148,623,000 after acquiring an additional 2,816,889 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Avnet during the fourth quarter valued at approximately $32,676,000. Hotchkis & Wiley Capital Management LLC lifted 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 purchasing an additional 463,660 shares during the last quarter. Harbor Capital Advisors Inc. boosted 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 worth $11,197,000 after purchasing an additional 148,588 shares in the last quarter. Finally, FMR LLC increased its position in Avnet by 24.7% during the 3rd quarter. FMR LLC now owns 576,794 shares of the company’s stock valued at $31,326,000 after buying an additional 114,217 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Wall Street Analyst Weigh In

AVT has been the topic of several analyst reports. 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 report on Thursday, January 30th. Truist Financial cut their price objective on shares of Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, January 30th.

Avnet Stock Up 4.4 %

AVT stock opened at $49.07 on Tuesday. The stock has a market capitalization of $4.24 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.13 and a beta of 1.09. 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, Inc. has a 1-year low of $46.24 and a 1-year high of $59.24. The business has a fifty day moving average price of $50.76 and a 200-day moving average price of $52.57.

Avnet (NASDAQ:AVT) last posted 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%. Equities analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is presently 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.