Barclays PLC Boosts Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Barclays PLC increased its position in shares of Avnet, Inc. (NASDAQ:AVT) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,036 shares of the company’s stock after buying an additional 2,194 shares during the period. Barclays PLC’s holdings in Avnet were worth $4,920,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVT. Synergy Investment Management LLC purchased a new stake in shares of Avnet during the 4th quarter worth about $38,000. Bessemer Group Inc. boosted its position 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 in the last quarter. Principal Securities Inc. grew its holdings in Avnet by 18.2% in the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after purchasing an additional 211 shares during the period. Quadrant Capital Group LLC grew its holdings in Avnet by 30.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,456 shares of the company’s stock valued at $76,000 after purchasing an additional 340 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Avnet by 1,768.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company’s stock valued at $113,000 after buying an additional 2,051 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Performance

Shares of NASDAQ:AVT opened at $51.94 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. Avnet, Inc. has a 1 year low of $39.22 and a 1 year high of $59.24. The firm has a market capitalization of $4.49 billion, a PE ratio of 14.71, a P/E/G ratio of 1.13 and a beta of 1.04. The business’s 50 day moving average price is $48.05 and its 200-day moving average price is $51.53.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate 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 research analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is 37.39%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVT. Truist Financial decreased their target price on 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 downgraded shares of 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.

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.