Xponance Inc. Purchases 1,744 Shares of Avnet, Inc. (NASDAQ:AVT)

Xponance Inc. lifted its holdings in Avnet, Inc. (NASDAQ:AVT) by 14.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,621 shares of the company’s stock after buying an additional 1,744 shares during the period. Xponance Inc.’s holdings in Avnet were worth $713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVT. Synergy Investment Management LLC purchased a new stake in Avnet in the fourth quarter worth about $38,000. Principal Securities Inc. lifted its holdings in Avnet by 18.2% during the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after purchasing an additional 211 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Avnet by 18.6% during the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after purchasing an additional 341 shares in the last quarter. KBC Group NV boosted its position in shares of Avnet by 55.7% in the fourth quarter. KBC Group NV now owns 3,356 shares of the company’s stock worth $176,000 after purchasing an additional 1,200 shares during the period. Finally, Longboard Asset Management LP purchased a new stake in shares of Avnet in the fourth quarter worth $207,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Stock Up 4.4 %

Shares of AVT stock opened at $49.07 on Tuesday. The company’s fifty day simple moving average is $50.76 and its two-hundred day simple moving average is $52.57. Avnet, Inc. has a 52 week low of $46.24 and a 52 week high of $59.24. The stock has a market cap of $4.24 billion, a P/E ratio of 13.90, a PEG ratio of 1.13 and a beta of 1.09. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, January 29th. The company reported $0.87 EPS 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%. Analysts predict 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 was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.33 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.69%. Avnet’s dividend payout ratio (DPR) is presently 37.39%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial dropped their target price on shares of 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 cut Avnet from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th.

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.