Yousif Capital Management LLC Cuts Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Yousif Capital Management LLC lowered its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,183 shares of the company’s stock after selling 695 shares during the period. Yousif Capital Management LLC’s holdings in Avnet were worth $1,893,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AVT. Capital Performance Advisors LLP purchased a new position in shares of Avnet in the 3rd quarter valued at $51,000. GAMMA Investing LLC raised its stake in shares of Avnet by 20.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,836 shares of the company’s stock valued at $100,000 after acquiring an additional 309 shares during the period. KBC Group NV raised its stake in shares of Avnet by 55.7% in the 4th quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after acquiring an additional 1,200 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Avnet by 442.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,697 shares of the company’s stock valued at $200,000 after acquiring an additional 3,015 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Avnet in the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Price Performance

Shares of NASDAQ:AVT opened at $49.80 on Wednesday. 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 fifty-two week low of $43.78 and a fifty-two week high of $59.24. The firm has a 50-day simple moving average of $52.67 and a 200 day simple moving average of $53.31. The company has a market cap of $4.31 billion, a PE ratio of 14.11, a P/E/G ratio of 1.06 and a beta of 1.13.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data 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 anticipate that Avnet, Inc. will post 3.57 EPS for the current year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Wednesday, December 4th. Avnet’s dividend payout ratio is presently 37.39%.

Analyst Upgrades and Downgrades

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