Avnet, Inc. (NASDAQ:AVT) Position Raised by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in Avnet, Inc. (NASDAQ:AVT - Free Report) by 167.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,601 shares of the company's stock after buying an additional 12,904 shares during the period. SG Americas Securities LLC's holdings in Avnet were worth $991,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of Avnet by 2.1% in the fourth quarter. American Century Companies Inc. now owns 3,502,425 shares of the company's stock worth $183,247,000 after buying an additional 72,715 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Avnet by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,116,697 shares of the company's stock worth $58,426,000 after buying an additional 43,547 shares during the period. Norges Bank purchased a new stake in shares of Avnet in the fourth quarter worth about $52,924,000. Lind Value II ApS boosted its position in shares of Avnet by 15.6% in the first quarter. Lind Value II ApS now owns 1,003,897 shares of the company's stock worth $48,277,000 after buying an additional 135,135 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Avnet by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 921,854 shares of the company's stock worth $48,231,000 after buying an additional 5,209 shares during the period. Hedge funds and other institutional investors own 95.78% of the company's stock.

Avnet Stock Down 0.4%

AVT traded down $0.20 on Thursday, reaching $50.95. The company's stock had a trading volume of 552,875 shares, compared to its average volume of 741,642. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.02. Avnet, Inc. has a 1 year low of $39.22 and a 1 year high of $59.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.44 and a quick ratio of 1.13. The business's 50 day moving average is $49.97 and its 200 day moving average is $50.54.

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

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.59%. The ex-dividend date was Wednesday, June 4th. Avnet's dividend payout ratio (DPR) is presently 36.97%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, VP Elizabeth Mcmullen sold 4,000 shares of the firm's stock in a transaction 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 transaction, the vice president now directly owns 14,626 shares in the company, valued at $772,252.80. This trade represents a 21.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by company 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.