Avnet, Inc. (NASDAQ:AVT) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC increased its stake in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 74.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,561 shares of the company's stock after purchasing an additional 80,731 shares during the quarter. Gotham Asset Management LLC owned 0.22% of Avnet worth $9,866,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVT. Barclays PLC grew its stake 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 purchasing an additional 42,880 shares in the last quarter. Franklin Resources Inc. grew its stake in Avnet by 17.1% during the 3rd quarter. Franklin Resources Inc. now owns 52,290 shares of the company's stock worth $2,895,000 after purchasing an additional 7,619 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Avnet by 13.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company's stock worth $13,213,000 after acquiring an additional 28,453 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Avnet by 22.6% during the 4th quarter. Park Avenue Securities LLC now owns 5,966 shares of the company's stock worth $312,000 after acquiring an additional 1,101 shares in the last quarter. Finally, Greenhaven Associates Inc. boosted its position in shares of Avnet by 1.0% during the 4th quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company's stock worth $207,336,000 after acquiring an additional 38,185 shares in the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Stock Performance

AVT traded up $0.29 on Friday, hitting $51.88. 527,371 shares of the company traded hands, compared to its average volume of 753,123. The company has a 50 day moving average of $48.08 and a 200-day moving average of $51.09. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $4.35 billion, a PE ratio of 14.70, a PEG ratio of 1.13 and a beta of 0.98. Avnet, Inc. has a 12-month low of $39.22 and a 12-month high of $59.24.

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 the consensus estimate of $0.72 by $0.12. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.25 billion. Avnet had a return on equity of 7.49% and a net margin of 1.41%. The firm's revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 EPS. Sell-side analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The business 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 2.54%. The ex-dividend date is Wednesday, June 4th. Avnet's dividend payout ratio is presently 36.97%.

Insider Buying and Selling at Avnet

In other Avnet news, VP Elizabeth Mcmullen sold 4,000 shares of the business'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 transaction, the vice president now owns 14,626 shares in the company, valued at approximately $772,252.80. The trade was a 21.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AVT shares. Wells Fargo & Company lowered their price objective on Avnet from $45.00 to $43.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Bank of America downgraded Avnet from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $58.00 to $48.00 in a report on Thursday, January 30th. Finally, Truist Financial reduced their target price on Avnet from $52.00 to $50.00 and set a "hold" rating for the company in a 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.