Capital Fund Management S.A. Takes Position in Avnet, Inc. (NASDAQ:AVT)

Capital Fund Management S.A. acquired a new position in Avnet, Inc. (NASDAQ:AVT) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 26,724 shares of the company’s stock, valued at approximately $1,398,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of Avnet by 87.6% during the 3rd quarter. Barclays PLC now owns 91,842 shares of the company’s stock worth $4,988,000 after purchasing an additional 42,880 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Avnet by 5.1% during the third quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock worth $246,000 after buying an additional 222 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Avnet in the third quarter worth $378,000. Tidal Investments LLC lifted its position in shares of Avnet by 9.0% in the third quarter. Tidal Investments LLC now owns 13,547 shares of the company’s stock valued at $736,000 after acquiring an additional 1,118 shares in the last quarter. Finally, Synovus Financial Corp boosted its stake in shares of Avnet by 9.8% during the third quarter. Synovus Financial Corp now owns 9,460 shares of the company’s stock valued at $514,000 after acquiring an additional 843 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, January 30th. Bank of America downgraded shares of Avnet from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $58.00 to $48.00 in a research note on Thursday, January 30th.

Avnet Stock Performance

NASDAQ AVT opened at $46.44 on Wednesday. The business’s 50-day moving average price is $48.35 and its 200 day moving average price is $51.82. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $59.24. The company has a market capitalization of $4.02 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

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

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.33 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.84%. Avnet’s dividend payout ratio (DPR) is presently 37.39%.

About Avnet

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.