CW Advisors LLC Grows Position in Avnet, Inc. $AVT

Key Points

• CW Advisors LLC increased its stake in Avnet, Inc. by 15.6%, acquiring an additional 6,446 shares during the first quarter, bringing its total to 47,656 shares valued at approximately $2.29 million.
• Analysts have set a consensus rating of "Sell" for Avnet's stock, with an average price target of $49.00.
• Avnet recently declared a quarterly dividend of $0.35 per share, increasing from the previous $0.33, with an annualized yield of 2.5%.

CW Advisors LLC raised its position in Avnet, Inc. (NASDAQ:AVT - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,656 shares of the company's stock after buying an additional 6,446 shares during the period. CW Advisors LLC owned 0.06% of Avnet worth $2,292,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in Avnet in the first quarter valued at about $49,000. Deutsche Bank AG raised its holdings in shares of Avnet by 9.8% in the 4th quarter. Deutsche Bank AG now owns 29,843 shares of the company's stock worth $1,561,000 after purchasing an additional 2,655 shares during the period. Barclays PLC lifted its stake in Avnet by 2.4% in the fourth quarter. Barclays PLC now owns 94,036 shares of the company's stock valued at $4,920,000 after purchasing an additional 2,194 shares during the last quarter. Jane Street Group LLC lifted its stake in Avnet by 245.8% in the fourth quarter. Jane Street Group LLC now owns 45,351 shares of the company's stock valued at $2,373,000 after purchasing an additional 32,235 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Avnet by 4,565.4% during the first quarter. GAMMA Investing LLC now owns 101,566 shares of the company's stock valued at $4,884,000 after purchasing an additional 99,389 shares during the period. Institutional investors own 95.78% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AVT. Wells Fargo & Company lowered their price target on shares of Avnet from $45.00 to $43.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Bank of America lifted their price objective on Avnet from $48.00 to $50.00 and gave the company an "underperform" rating in a research note on Monday, August 11th. Finally, Truist Financial raised their price target on Avnet from $50.00 to $54.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Sell" and an average price target of $49.00.

Avnet Trading Down 0.9%

Shares of NASDAQ:AVT traded down $0.47 on Friday, hitting $54.35. The company had a trading volume of 226,537 shares, compared to its average volume of 814,564. The firm's 50-day simple moving average is $53.96 and its two-hundred day simple moving average is $50.91. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 0.41 and a beta of 1.06. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.51. Avnet, Inc. has a 1 year low of $39.22 and a 1 year high of $59.24.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.72 by $0.09. The business had revenue of $5.62 billion during the quarter, compared to analyst estimates of $5.36 billion. Avnet had a return on equity of 6.07% and a net margin of 1.08%.The company's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. Equities analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Wednesday, September 17th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.6%. This is a boost from Avnet's previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, September 17th. Avnet's dividend payout ratio (DPR) is currently 51.28%.

About Avnet

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.