Avnet, Inc. (NASDAQ:AVT) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,201 shares of the company’s stock after selling 222 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Avnet were worth $1,005,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Natixis Advisors LLC boosted its stake in shares of Avnet by 10.1% in the third quarter. Natixis Advisors LLC now owns 14,243 shares of the company’s stock worth $774,000 after buying an additional 1,302 shares during the last quarter. FMR LLC lifted its holdings in Avnet by 24.7% in the third quarter. FMR LLC now owns 576,794 shares of the company’s stock valued at $31,326,000 after acquiring an additional 114,217 shares during the period. CreativeOne Wealth LLC boosted its position in Avnet by 21.7% in the 3rd quarter. CreativeOne Wealth LLC now owns 7,979 shares of the company’s stock worth $433,000 after purchasing an additional 1,421 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Avnet by 10.0% during the 3rd quarter. Captrust Financial Advisors now owns 12,717 shares of the company’s stock worth $691,000 after purchasing an additional 1,158 shares during the period. Finally, Verition Fund Management LLC increased its holdings in shares of Avnet by 206.2% during the 3rd quarter. Verition Fund Management LLC now owns 18,798 shares of the company’s stock valued at $1,021,000 after purchasing an additional 12,659 shares in the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Trading Down 0.6 %

Shares of NASDAQ:AVT opened at $48.51 on Thursday. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. The business’s 50 day moving average price is $50.61 and its 200-day moving average price is $52.53. 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.

Avnet (NASDAQ:AVT) last posted 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 net margin of 1.41% and a return on equity of 7.49%. On average, equities research analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 annualized dividend and a yield of 2.72%. Avnet’s dividend payout ratio (DPR) is currently 37.39%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Truist Financial lowered their price target on shares of Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, January 30th. Bank of America lowered shares of Avnet from a “neutral” rating to an “underperform” rating and lowered their target price 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.