25,400 Shares in Avnet, Inc. (NASDAQ:AVT) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in Avnet, Inc. (NASDAQ:AVT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,400 shares of the company's stock, valued at approximately $1,280,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Invesco Ltd. increased its stake in Avnet by 51.2% in the third quarter. Invesco Ltd. now owns 1,521,195 shares of the company's stock valued at $73,306,000 after purchasing an additional 515,095 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Avnet by 971.5% in the third quarter. Assenagon Asset Management S.A. now owns 437,210 shares of the company's stock valued at $21,069,000 after purchasing an additional 396,405 shares during the last quarter. Victory Capital Management Inc. increased its stake in Avnet by 586.5% in the third quarter. Victory Capital Management Inc. now owns 259,092 shares of the company's stock valued at $12,486,000 after purchasing an additional 221,353 shares during the last quarter. Tudor Investment Corp Et Al increased its stake in Avnet by 212.8% in the third quarter. Tudor Investment Corp Et Al now owns 228,857 shares of the company's stock valued at $11,029,000 after purchasing an additional 155,685 shares during the last quarter. Finally, LSV Asset Management increased its stake in Avnet by 5.3% in the third quarter. LSV Asset Management now owns 3,077,468 shares of the company's stock valued at $148,303,000 after purchasing an additional 154,700 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Stock Up 1.5 %

AVT traded up $0.72 on Monday, reaching $47.38. The company's stock had a trading volume of 479,148 shares, compared to its average volume of 567,492. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 0.62 and a beta of 1.24. Avnet, Inc. has a 1 year low of $39.64 and a 1 year high of $51.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 1.05. The business's 50 day moving average is $47.24 and its 200 day moving average is $47.32.

Avnet (NASDAQ:AVT - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.01. The firm had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.15 billion. Avnet had a return on equity of 13.60% and a net margin of 2.62%. During the same quarter in the prior year, the business posted $2.00 earnings per share. As a group, research analysts forecast that Avnet, Inc. will post 5.25 EPS for the current fiscal year.

Avnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Tuesday, March 5th. Avnet's dividend payout ratio is presently 17.13%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group dropped their price target on Avnet from $48.00 to $42.00 and set a "sell" rating for the company in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $45.50.

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.