Public Employees Retirement System of Ohio Purchases New Position in Avnet, Inc. (NASDAQ:AVT)

Public Employees Retirement System of Ohio purchased a new stake in Avnet, Inc. (NASDAQ:AVT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 29,821 shares of the company's stock, valued at approximately $1,560,000.

Several other large investors have also recently made changes to their positions in the stock. Barclays PLC lifted its holdings in Avnet by 87.6% during the 3rd quarter. Barclays PLC now owns 91,842 shares of the company's stock worth $4,988,000 after buying an additional 42,880 shares during the last quarter. Deutsche Bank AG lifted its stake in Avnet by 9.8% during the fourth 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 last quarter. Jane Street Group LLC boosted its holdings 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 in the last quarter. KBC Group NV increased its stake in Avnet by 55.7% in the fourth quarter. KBC Group NV now owns 3,356 shares of the company's stock valued at $176,000 after purchasing an additional 1,200 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Avnet by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 733,566 shares of the company's stock worth $38,380,000 after purchasing an additional 17,685 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Elizabeth Mcmullen sold 4,000 shares of Avnet stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $52.80, for a total value of $211,200.00. Following the transaction, the vice president now owns 14,626 shares in the company, valued at approximately $772,252.80. This trade represents a 21.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by corporate insiders.

Avnet Stock Performance

Shares of Avnet stock traded down $0.04 on Thursday, reaching $50.59. 204,586 shares of the stock were exchanged, compared to its average volume of 867,504. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average price of $48.69 and a two-hundred day moving average price of $50.72. Avnet, Inc. has a 1-year low of $39.22 and a 1-year high of $59.24. The firm has a market capitalization of $4.24 billion, a PE ratio of 14.33, a PEG ratio of 1.13 and a beta of 1.02.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.12. The business had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.25 billion. Avnet had a return on equity of 7.49% and a net margin of 1.41%. The business's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted $1.10 earnings per share. As a group, research analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Wednesday, June 4th. Avnet's payout ratio is 36.97%.

Analyst Upgrades and Downgrades

AVT has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of Avnet from $45.00 to $43.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Truist Financial reduced their price target on shares of Avnet from $52.00 to $50.00 and set a "hold" rating for the company in a research report on Thursday, May 1st.

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.