Capital Fund Management S.A. Purchases New Shares in Avnet, Inc. (NASDAQ:AVT)

Capital Fund Management S.A. purchased a new position in shares of Avnet, Inc. (NASDAQ:AVT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,724 shares of the company’s stock, valued at approximately $1,398,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Avnet by 87.6% during the third quarter. Barclays PLC now owns 91,842 shares of the company’s stock worth $4,988,000 after buying an additional 42,880 shares during the period. Coldstream Capital Management Inc. raised its stake in Avnet by 5.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock valued at $246,000 after acquiring an additional 222 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Avnet during the 3rd quarter worth approximately $378,000. Tidal Investments LLC grew its stake in shares of Avnet by 9.0% in the 3rd quarter. Tidal Investments LLC now owns 13,547 shares of the company’s stock valued at $736,000 after purchasing an additional 1,118 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Avnet by 9.8% in the third quarter. Synovus Financial Corp now owns 9,460 shares of the company’s stock valued at $514,000 after purchasing an additional 843 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AVT. 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. Bank of America lowered shares of Avnet from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th.

Avnet Trading Up 0.4 %

Shares of AVT stock opened at $46.44 on Wednesday. The business’s fifty day moving average price is $48.35 and its 200 day moving average price is $51.82. The firm has a market capitalization of $4.02 billion, a PE ratio of 13.16, a P/E/G ratio of 1.13 and a beta of 1.04. 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 $39.22 and a 1-year high of $59.24.

Avnet (NASDAQ:AVT) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.84%. Avnet’s payout ratio is 37.39%.

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.