Avnet, Inc. $AVT Shares Sold by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management trimmed its Avnet stake by 3.5% in the fourth quarter, while the stock remains heavily owned by institutional investors and hedge funds at 95.78%.
• Avnet posted stronger-than-expected quarterly results, reporting EPS of $1.48 versus $1.33 expected and revenue of $7.12 billion, up 34% year over year.
• The company also announced a quarterly dividend of $0.35 per share and disclosed that CEO Philip R. Gallagher sold shares worth about $1.98 million in May.

Brandywine Global Investment Management LLC reduced its holdings in Avnet, Inc. (NASDAQ:AVT - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 339,427 shares of the company's stock after selling 12,456 shares during the quarter. Brandywine Global Investment Management LLC owned 0.41% of Avnet worth $16,320,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Avnet during the 4th quarter valued at $62,393,000. AQR Capital Management LLC boosted its stake in Avnet by 34.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,265,679 shares of the company's stock valued at $117,974,000 after purchasing an additional 585,141 shares in the last quarter. Vanguard Group Inc. boosted its stake in Avnet by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 10,783,059 shares of the company's stock valued at $563,738,000 after purchasing an additional 214,290 shares in the last quarter. LSV Asset Management boosted its stake in Avnet by 7.6% during the 4th quarter. LSV Asset Management now owns 2,811,171 shares of the company's stock valued at $135,161,000 after purchasing an additional 197,400 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Avnet by 86.9% during the 3rd quarter. Millennium Management LLC now owns 373,422 shares of the company's stock worth $19,523,000 after acquiring an additional 173,579 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Price Performance

Shares of NASDAQ:AVT opened at $87.05 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 0.50. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $95.26. The business has a fifty day simple moving average of $77.95 and a 200 day simple moving average of $63.47. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 33.87, a P/E/G ratio of 0.39 and a beta of 1.08.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.15. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The business had revenue of $7.12 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period last year, the company earned $0.84 earnings per share. Avnet's quarterly revenue was up 34.0% compared to the same quarter last year. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. As a group, sell-side analysts predict that Avnet, Inc. will post 5.12 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, June 3rd. Avnet's dividend payout ratio (DPR) is currently 54.47%.

Insider Activity

In related news, CEO Philip R. Gallagher sold 23,920 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total transaction of $1,983,446.40. Following the completion of the sale, the chief executive officer directly owned 145,003 shares in the company, valued at approximately $12,023,648.76. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVT. Raymond James Financial reissued a "strong-buy" rating and set a $95.00 price objective on shares of Avnet in a research note on Thursday, April 30th. Truist Financial raised their price objective on Avnet to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings lowered Avnet from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, March 19th. Zacks Research raised Avnet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Finally, Bank of America upgraded Avnet from an "underperform" rating to a "neutral" rating and increased their target price for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Avnet has an average rating of "Moderate Buy" and a consensus target price of $89.00.

About Avnet

Avnet, Inc NASDAQ: AVT is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet's offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.

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