Cookson Peirce & Co. Inc. Acquires 2,808 Shares of Avnet, Inc. (NASDAQ:AVT)

Cookson Peirce & Co. Inc. lifted its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 34.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,073 shares of the company’s stock after purchasing an additional 2,808 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Avnet were worth $579,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. FMR LLC boosted 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 last quarter. Harbor Capital Advisors Inc. boosted its holdings in Avnet by 227.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock valued at $11,197,000 after acquiring an additional 148,588 shares during the last quarter. Weiss Asset Management LP boosted its holdings in Avnet by 35.7% in the third quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock valued at $13,829,000 after acquiring an additional 66,973 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Avnet by 13.2% in the third quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company’s stock valued at $13,213,000 after acquiring an additional 28,453 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in Avnet by 22.6% in the fourth quarter. Park Avenue Securities LLC now owns 5,966 shares of the company’s stock valued at $312,000 after acquiring an additional 1,101 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Up 1.0 %

AVT stock opened at $49.09 on Thursday. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $51.74 and a two-hundred day moving average price of $53.13. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.13 and a beta of 1.09. Avnet, Inc. has a twelve month low of $45.50 and a twelve month 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 net margin of 1.41% and a return on equity of 7.49%. Analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.69%. Avnet’s dividend payout ratio is currently 37.39%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial reduced their target price on 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 downgraded Avnet from a “neutral” rating to an “underperform” rating and decreased their price target for the company 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.