Kendall Capital Management Has $6.90 Million Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Kendall Capital Management grew its stake in Avnet, Inc. (NASDAQ:AVT - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 143,445 shares of the company's stock after purchasing an additional 10,240 shares during the period. Avnet makes up approximately 2.0% of Kendall Capital Management's holdings, making the stock its 7th largest holding. Kendall Capital Management owned approximately 0.17% of Avnet worth $6,898,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AVT. Legacy Advisors LLC bought a new position in shares of Avnet in the first quarter valued at about $26,000. GeoWealth Management LLC acquired a new stake in Avnet in the 4th quarter valued at about $31,000. Synergy Investment Management LLC bought a new position in shares of Avnet in the fourth quarter worth about $38,000. Natixis lifted its position in shares of Avnet by 1,463.8% during the fourth quarter. Natixis now owns 735 shares of the company's stock worth $38,000 after purchasing an additional 688 shares in the last quarter. Finally, Curat Global LLC acquired a new position in shares of Avnet during the first quarter worth approximately $42,000. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Trading Up 1.6%

AVT traded up $0.85 during midday trading on Tuesday, reaching $53.93. 1,885,463 shares of the company were exchanged, compared to its average volume of 747,486. The stock has a market capitalization of $4.52 billion, a P/E ratio of 15.11, a PEG ratio of 1.79 and a beta of 1.03. Avnet, Inc. has a one year low of $39.22 and a one year high of $59.24. The stock's 50-day simple moving average is $50.88 and its 200 day simple moving average is $50.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 2.44.

Avnet (NASDAQ:AVT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.12. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.25 billion. Avnet had a net margin of 1.43% and a return on equity of 6.96%. Avnet's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 EPS. As a group, analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.45%. Avnet's dividend payout ratio is presently 36.97%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial reduced their price objective on Avnet from $52.00 to $50.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company reduced their target price on shares of Avnet from $45.00 to $43.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st.

Insider Transactions at Avnet

In other Avnet news, VP Elizabeth Mcmullen sold 4,000 shares of Avnet stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $52.80, for a total value of $211,200.00. Following the transaction, the vice president owned 14,626 shares of the company's stock, valued at approximately $772,252.80. The trade was a 21.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.50% of the company's stock.

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.