4,188 Shares in Avnet, Inc. (NASDAQ:AVT) Acquired by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC acquired a new stake in Avnet, Inc. (NASDAQ:AVT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,188 shares of the company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Foundry Partners LLC acquired a new stake in shares of Avnet during the 4th quarter worth about $7,046,000. Atlas Capital Advisors Inc. increased its stake in Avnet by 5.1% in the fourth quarter. Atlas Capital Advisors Inc. now owns 10,645 shares of the company’s stock valued at $557,000 after purchasing an additional 518 shares during the last quarter. World Investment Advisors raised its holdings in Avnet by 3.7% during the fourth quarter. World Investment Advisors now owns 7,223 shares of the company’s stock worth $378,000 after purchasing an additional 255 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Avnet during the fourth quarter worth approximately $146,000. Finally, Franklin Resources Inc. lifted its position in shares of Avnet by 58.4% during the 4th quarter. Franklin Resources Inc. now owns 82,851 shares of the company’s stock worth $4,335,000 after buying an additional 30,561 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Price Performance

AVT stock opened at $42.11 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $3.64 billion, a P/E ratio of 11.93, a PEG ratio of 1.13 and a beta of 1.04. The business has a 50 day simple moving average of $49.36 and a 200-day simple moving average of $52.28. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $59.24.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a return on equity of 7.49% and a net margin of 1.41%. As a group, equities analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Wednesday, March 5th. Avnet’s dividend payout ratio is currently 37.39%.

Analysts Set New Price Targets

A number of research analysts recently commented on AVT shares. Truist Financial dropped their target price on shares of Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, January 30th. Bank of America lowered Avnet from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $58.00 to $48.00 in a report on Thursday, January 30th.

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.