Avnet, Inc. (NASDAQ:AVT) Stake Boosted by TCW Group Inc.

TCW Group Inc. lifted its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,094 shares of the company’s stock after purchasing an additional 1,949 shares during the quarter. TCW Group Inc.’s holdings in Avnet were worth $3,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Avnet in the third quarter valued at $51,000. Principal Securities Inc. boosted its holdings in shares of Avnet by 18.2% in the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after buying an additional 211 shares during the period. GAMMA Investing LLC grew its position in Avnet by 18.6% during the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock worth $114,000 after purchasing an additional 341 shares in the last quarter. KBC Group NV raised its position in Avnet by 55.7% during the fourth quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after buying an additional 1,200 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Avnet by 442.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,697 shares of the company’s stock valued at $200,000 after purchasing an additional 3,015 shares during the period. Institutional investors own 95.78% of the company’s stock.

Wall Street Analysts Forecast Growth

AVT has been the subject of a number of research reports. Truist Financial reduced their price objective on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, January 30th. Bank of America cut Avnet from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th.

Avnet Price Performance

AVT opened at $51.85 on Monday. The stock has a market capitalization of $4.49 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.13. Avnet, Inc. has a one year low of $45.45 and a one year high of $59.24. 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 company’s 50 day simple moving average is $52.20 and its 200-day simple moving average is $53.30.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share 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%. Sell-side analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is currently 37.39%.

About Avnet

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.