Avnet, Inc. (NASDAQ:AVT) Stock Holdings Decreased by Bank of Montreal Can

Bank of Montreal Can decreased its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,952 shares of the company’s stock after selling 3,162 shares during the period. Bank of Montreal Can’s holdings in Avnet were worth $1,900,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in shares of Avnet by 35.2% in the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $42,000 after buying an additional 214 shares during the period. Capital Performance Advisors LLP acquired a new position in Avnet during the 3rd quarter valued at approximately $51,000. nVerses Capital LLC bought a new position in Avnet during the 2nd quarter worth $77,000. GAMMA Investing LLC increased its position in Avnet by 68.4% in the second quarter. GAMMA Investing LLC now owns 1,527 shares of the company’s stock worth $79,000 after buying an additional 620 shares during the period. Finally, Hexagon Capital Partners LLC lifted its stake in Avnet by 90.6% in the second quarter. Hexagon Capital Partners LLC now owns 1,712 shares of the company’s stock valued at $88,000 after buying an additional 814 shares during the last quarter. 95.78% of the stock is owned by institutional investors.

Avnet Trading Down 1.1 %

Avnet stock opened at $54.67 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. Avnet, Inc. has a 1 year low of $43.62 and a 1 year high of $59.24. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 1.04 and a beta of 1.14. The firm’s 50 day moving average price is $54.50 and its two-hundred day moving average price is $53.42.

Avnet (NASDAQ:AVT) last posted its earnings results on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. On average, research analysts predict that Avnet, Inc. will post 4.09 EPS for the current fiscal year.

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Wednesday, December 4th. Avnet’s dividend payout ratio is 34.55%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVT. Truist Financial increased their price objective on shares of Avnet from $48.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Stifel Nicolaus lifted their target price on Avnet from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company increased their price target on Avnet from $40.00 to $45.00 and gave the stock an “underweight” rating in a research note on Friday, August 9th.

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.