Avnet, Inc. (NASDAQ:AVT) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,756 shares of the company's stock after acquiring an additional 7,434 shares during the period. Mackenzie Financial Corp owned approximately 0.08% of Avnet worth $3,545,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Peak Retirement Planning Inc. acquired a new position in shares of Avnet during the fourth quarter worth about $957,000. Public Employees Retirement System of Ohio acquired a new position in shares of Avnet during the fourth quarter worth about $1,560,000. Vise Technologies Inc. lifted its stake in shares of Avnet by 26.5% during the fourth quarter. Vise Technologies Inc. now owns 17,088 shares of the company's stock worth $894,000 after purchasing an additional 3,575 shares in the last quarter. CSS LLC IL acquired a new position in shares of Avnet during the fourth quarter worth about $510,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Avnet by 16.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 337,314 shares of the company's stock worth $17,648,000 after purchasing an additional 48,770 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company's stock.

Avnet Stock Down 1.4%

NASDAQ AVT traded down $0.73 during mid-day trading on Friday, reaching $49.93. 598,087 shares of the company's stock traded hands, compared to its average volume of 744,056. The company has a fifty day simple moving average of $48.53 and a 200-day simple moving average of $50.78. Avnet, Inc. has a 1-year low of $39.22 and a 1-year high of $59.24. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.13 and a beta of 0.98. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53.

Avnet (NASDAQ:AVT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.12. The firm had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.25 billion. Avnet had a net margin of 1.41% and a return on equity of 7.49%. The firm's revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. As a group, equities research analysts expect that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, June 4th. Avnet's payout ratio is currently 36.97%.

Analyst Upgrades and Downgrades

A number of research analysts have commented 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 research note on Thursday, May 1st. Wells Fargo & Company reduced their price objective on Avnet from $45.00 to $43.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st.

Insider Buying and Selling at Avnet

In related news, VP Elizabeth Mcmullen sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $52.80, for a total transaction of $211,200.00. Following the sale, the vice president now directly owns 14,626 shares of the company's stock, valued at approximately $772,252.80. This represents a 21.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

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.