Jane Street Group LLC Buys 32,235 Shares of Avnet, Inc. (NASDAQ:AVT)

Jane Street Group LLC boosted its position in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 245.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,351 shares of the company's stock after buying an additional 32,235 shares during the quarter. Jane Street Group LLC owned approximately 0.05% of Avnet worth $2,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Northern Trust Corp raised its stake in Avnet by 25.2% during the 4th quarter. Northern Trust Corp now owns 895,927 shares of the company's stock worth $46,875,000 after acquiring an additional 180,134 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Avnet in the fourth quarter valued at $5,436,000. Voya Investment Management LLC grew its holdings in shares of Avnet by 6.9% in the fourth quarter. Voya Investment Management LLC now owns 54,448 shares of the company's stock valued at $2,849,000 after purchasing an additional 3,508 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Avnet by 15.6% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 412,279 shares of the company's stock worth $21,570,000 after buying an additional 55,670 shares during the last quarter. Finally, Pinebridge Investments L.P. lifted its position in Avnet by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 58,325 shares of the company's stock worth $3,052,000 after buying an additional 17,448 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 of the company's stock, valued at $772,252.80. The trade was a 21.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

AVT has been the subject of several recent research reports. Bank of America downgraded Avnet from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $58.00 to $48.00 in a report on Thursday, January 30th. Truist Financial decreased their target price on Avnet from $52.00 to $50.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company decreased their price objective on Avnet from $45.00 to $43.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st.

Avnet Stock Performance

NASDAQ AVT traded down $0.95 on Monday, reaching $50.93. The stock had a trading volume of 515,934 shares, compared to its average volume of 752,174. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. Avnet, Inc. has a 12-month low of $39.22 and a 12-month high of $59.24. The business's 50-day moving average price is $48.08 and its 200 day moving average price is $51.07. The stock has a market cap of $4.27 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.13 and a beta of 0.98.

Avnet (NASDAQ:AVT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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 business's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. As a group, equities analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The company also recently announced 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. The ex-dividend date is Wednesday, June 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.59%. Avnet's dividend payout ratio (DPR) is currently 36.97%.

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.