KBC Group NV Has $176,000 Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

KBC Group NV lifted its stake in Avnet, Inc. (NASDAQ:AVT) by 55.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,356 shares of the company’s stock after acquiring an additional 1,200 shares during the quarter. KBC Group NV’s holdings in Avnet were worth $176,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Creative Planning increased its position in Avnet by 12.2% during the second quarter. Creative Planning now owns 19,539 shares of the company’s stock worth $1,006,000 after buying an additional 2,122 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Avnet by 27.6% in the third quarter. SG Americas Securities LLC now owns 20,524 shares of the company’s stock valued at $1,115,000 after purchasing an additional 4,443 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Avnet by 32.1% during the third quarter. Handelsbanken Fonder AB now owns 24,300 shares of the company’s stock worth $1,320,000 after purchasing an additional 5,900 shares during the period. GAMMA Investing LLC lifted its holdings in Avnet by 20.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,836 shares of the company’s stock worth $100,000 after purchasing an additional 309 shares during the last quarter. Finally, CWM LLC boosted its stake in Avnet by 58.8% in the 3rd quarter. CWM LLC now owns 8,463 shares of the company’s stock valued at $460,000 after purchasing an additional 3,132 shares during the period. 95.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVT has been the topic of several recent research reports. Bank of America cut Avnet from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial lowered their price objective on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, January 30th.

Avnet Price Performance

Shares of AVT stock opened at $50.59 on Thursday. The business has a fifty day simple moving average of $53.07 and a 200 day simple moving average of $53.38. The company has a market cap of $4.40 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.01 and a beta of 1.13. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. Avnet, Inc. has a twelve month low of $43.62 and a twelve month high of $59.24.

Avnet (NASDAQ:AVT) last posted 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 net margin of 1.41% and a return on equity of 7.49%. On average, sell-side analysts forecast that Avnet, Inc. will post 3.82 EPS for the current fiscal year.

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, December 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.61%. Avnet’s dividend payout ratio (DPR) is presently 37.39%.

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.