Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Position in Avnet, Inc. (NASDAQ:AVT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in Avnet, Inc. (NASDAQ:AVT) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,201 shares of the company’s stock after selling 222 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Avnet were worth $1,005,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVT. Synergy Investment Management LLC purchased a new stake in Avnet in the 4th quarter valued at $38,000. Principal Securities Inc. boosted its position in shares of Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after acquiring an additional 211 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Avnet by 1,768.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company’s stock valued at $113,000 after purchasing an additional 2,051 shares during the period. GAMMA Investing LLC increased its position in Avnet by 18.6% during the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock worth $114,000 after purchasing an additional 341 shares during the last quarter. Finally, KBC Group NV raised its stake in Avnet by 55.7% during 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. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, January 30th. Bank of America cut Avnet from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $58.00 to $48.00 in a report on Thursday, January 30th.

Avnet Price Performance

Avnet stock opened at $48.51 on Thursday. The company’s 50 day simple moving average is $50.61 and its 200-day simple moving average is $52.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. Avnet, Inc. has a 1 year low of $46.24 and a 1 year high of $59.24. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) 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%. As a group, equities research analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.72%. The ex-dividend date was Wednesday, March 5th. Avnet’s payout ratio is 37.39%.

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.