Kapitalo Investimentos Ltda Invests $324,000 in Avnet, Inc. (NASDAQ:AVT)

Kapitalo Investimentos Ltda bought a new position in Avnet, Inc. (NASDAQ:AVT) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 6,419 shares of the company’s stock, valued at approximately $324,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Avnet by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 10,519,704 shares of the company’s stock worth $506,945,000 after purchasing an additional 135,171 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Avnet by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,253,451 shares of the company’s stock valued at $315,175,000 after acquiring an additional 157,709 shares during the period. Greenhaven Associates Inc. boosted its holdings in Avnet by 1.7% during the 4th quarter. Greenhaven Associates Inc. now owns 3,834,799 shares of the company’s stock valued at $193,274,000 after acquiring an additional 62,710 shares during the period. Invesco Ltd. boosted its holdings in Avnet by 51.2% during the 3rd quarter. Invesco Ltd. now owns 1,521,195 shares of the company’s stock valued at $73,306,000 after acquiring an additional 515,095 shares during the period. Finally, Earnest Partners LLC boosted its holdings in Avnet by 3.4% during the 3rd quarter. Earnest Partners LLC now owns 1,420,388 shares of the company’s stock valued at $68,448,000 after acquiring an additional 46,044 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Insider Transactions at Avnet

In other news, SVP Ken E. Arnold sold 8,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $54.34, for a total value of $434,720.00. Following the completion of the transaction, the senior vice president now directly owns 40,239 shares of the company’s stock, valued at approximately $2,186,587.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Ken E. Arnold sold 8,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $54.34, for a total transaction of $434,720.00. Following the transaction, the senior vice president now directly owns 40,239 shares of the company’s stock, valued at approximately $2,186,587.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Philip R. Gallagher sold 19,532 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $51.63, for a total value of $1,008,437.16. Following the transaction, the chief executive officer now directly owns 140,792 shares in the company, valued at $7,269,090.96. The disclosure for this sale can be found here. In the last three months, insiders sold 66,532 shares of company stock valued at $3,544,957. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Separately, Truist Financial dropped their price objective on Avnet from $49.00 to $48.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.00.

Avnet Price Performance

Shares of AVT stock opened at $52.85 on Wednesday. Avnet, Inc. has a twelve month low of $42.67 and a twelve month high of $55.46. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 8.55 and a beta of 1.19. The stock has a fifty day simple moving average of $51.45 and a two-hundred day simple moving average of $48.88. The company has a current ratio of 2.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.48.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, May 1st. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Avnet had a return on equity of 11.64% and a net margin of 2.31%. Avnet’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 earnings per share. On average, analysts predict that Avnet, Inc. will post 5.06 EPS for the current fiscal year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Wednesday, June 5th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Wednesday, June 5th. Avnet’s payout ratio is 20.06%.

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.