Jane Street Group LLC Has $2.37 Million Position in Avnet, Inc. (NASDAQ:AVT)

Jane Street Group LLC grew its position in Avnet, Inc. (NASDAQ:AVT - Free Report) by 245.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,351 shares of the company's stock after purchasing an additional 32,235 shares during the quarter. Jane Street Group LLC owned about 0.05% of Avnet worth $2,373,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AVT. GeoWealth Management LLC acquired a new stake in Avnet during the fourth quarter worth approximately $31,000. Synergy Investment Management LLC bought a new stake in Avnet during the fourth quarter worth $38,000. Natixis lifted its stake in 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 during the last quarter. Bessemer Group Inc. lifted its stake in Avnet by 621.8% during the fourth quarter. Bessemer Group Inc. now owns 960 shares of the company's stock worth $50,000 after purchasing an additional 827 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in Avnet by 18.2% during the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company's stock worth $72,000 after purchasing an additional 211 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company's stock.

Analyst Upgrades and Downgrades

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

Avnet Price Performance

Shares of AVT traded down $0.13 during trading hours on Wednesday, reaching $50.79. The stock had a trading volume of 33,444 shares, compared to its average volume of 749,832. Avnet, Inc. has a 12 month low of $39.22 and a 12 month high of $59.24. The stock has a market capitalization of $4.26 billion, a PE ratio of 14.38, a PEG ratio of 1.13 and a beta of 0.98. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. The company's 50-day moving average is $48.24 and its two-hundred day moving average is $51.04.

Avnet (NASDAQ:AVT - Get Free Report) last announced 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 7.49% and a net margin of 1.41%. The company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.25 billion. During the same period in the prior year, the company earned $1.10 EPS. Avnet's revenue was down 6.0% compared to the same quarter last year. Research analysts expect that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders 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 dividend yield of 2.60%. The ex-dividend date is Wednesday, June 4th. Avnet's payout ratio is 36.97%.

Insider Activity

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 completion of the transaction, the vice president now directly owns 14,626 shares of the company's stock, valued at $772,252.80. This trade represents a 21.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

About Avnet

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.