American Century Companies Inc. Increases Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

American Century Companies Inc. increased its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 2.1% in the fourth quarter, HoldingsChannel reports. The firm owned 3,502,425 shares of the company’s stock after buying an additional 72,715 shares during the quarter. American Century Companies Inc.’s holdings in Avnet were worth $183,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVT. Natixis Advisors LLC increased its position in Avnet by 10.1% during the 3rd quarter. Natixis Advisors LLC now owns 14,243 shares of the company’s stock worth $774,000 after purchasing an additional 1,302 shares in the last quarter. Pathstone Holdings LLC increased its position in Avnet by 1.5% during the 3rd quarter. Pathstone Holdings LLC now owns 51,247 shares of the company’s stock worth $2,783,000 after purchasing an additional 769 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Avnet during the 3rd quarter worth about $209,000. 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 worth $31,326,000 after purchasing an additional 114,217 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its position in Avnet by 21.7% during 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. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analyst Ratings Changes

AVT has been the subject of a number of recent research reports. Truist Financial dropped 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 lowered Avnet from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th.

Avnet Stock Down 2.4 %

Shares of NASDAQ:AVT opened at $46.99 on Friday. The stock’s 50-day moving average price is $50.80 and its two-hundred day moving average price is $52.59. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. Avnet, Inc. has a 12-month low of $46.24 and a 12-month high of $59.24. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT) last released its quarterly earnings data 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%. On average, research analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Wednesday, March 5th. Avnet’s dividend payout ratio is currently 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.