DekaBank Deutsche Girozentrale Has $233,000 Stake in Avnet, Inc. (NASDAQ:AVT)

DekaBank Deutsche Girozentrale lessened its stake in shares of Avnet, Inc. (NASDAQ:AVT - Free Report) by 87.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,615 shares of the company's stock after selling 31,918 shares during the period. DekaBank Deutsche Girozentrale's holdings in Avnet were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC raised its position in Avnet by 330.2% in the 3rd quarter. CWM LLC now owns 641 shares of the company's stock worth $31,000 after purchasing an additional 492 shares during the period. Venturi Wealth Management LLC raised its position in Avnet by 46.5% in the 4th quarter. Venturi Wealth Management LLC now owns 655 shares of the company's stock worth $33,000 after purchasing an additional 208 shares during the period. Amundi purchased a new position in shares of Avnet during the fourth quarter worth approximately $37,000. Money Concepts Capital Corp purchased a new position in shares of Avnet during the fourth quarter worth approximately $37,000. Finally, Quantbot Technologies LP purchased a new position in shares of Avnet during the first quarter worth approximately $38,000. Institutional investors own 95.78% of the company's stock.

Avnet Stock Performance

Shares of NASDAQ:AVT traded down $0.52 on Wednesday, hitting $46.59. 317,960 shares of the company were exchanged, compared to its average volume of 572,640. Avnet, Inc. has a 1-year low of $39.64 and a 1-year high of $51.65. The stock's 50 day moving average price is $47.13 and its 200 day moving average price is $47.35. The company has a current ratio of 2.34, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $4.21 billion, a P/E ratio of 6.44, a price-to-earnings-growth ratio of 0.62 and a beta of 1.24.

Avnet (NASDAQ:AVT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.39 by $0.01. Avnet had a net margin of 2.62% and a return on equity of 13.60%. The business had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same period in the previous year, the firm posted $2.00 earnings per share. Sell-side analysts predict that Avnet, Inc. will post 5.25 EPS for the current year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.31 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.66%. Avnet's dividend payout ratio (DPR) is presently 17.13%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group reduced their target price on shares of Avnet from $48.00 to $42.00 and set a "sell" rating on the stock in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $45.50.

Avnet 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.