Blue Trust Inc. Has $181,000 Stake in Avnet, Inc. (NASDAQ:AVT)

Blue Trust Inc. lessened its holdings in Avnet, Inc. (NASDAQ:AVT) by 10.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,451 shares of the company’s stock after selling 423 shares during the period. Blue Trust Inc.’s holdings in Avnet were worth $181,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Greenhaven Associates Inc. lifted its stake in Avnet by 1.0% in the fourth quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company’s stock valued at $207,336,000 after purchasing an additional 38,185 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Avnet by 11,848.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock valued at $148,623,000 after acquiring an additional 2,816,889 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Avnet by 204.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock worth $37,489,000 after purchasing an additional 463,660 shares during the period. FMR LLC increased its holdings in shares of Avnet by 24.7% in the third quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after purchasing an additional 114,217 shares during the period. Finally, Weiss Asset Management LP increased its holdings in shares of Avnet by 35.7% in the third quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock worth $13,829,000 after purchasing an additional 66,973 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on AVT shares. Bank of America cut Avnet from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $58.00 to $48.00 in a research note on Thursday, January 30th. Truist Financial dropped their target price 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 Stock Performance

Avnet stock opened at $52.51 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average of $52.24 and a 200-day moving average of $53.24. The firm has a market cap of $4.54 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.14 and a beta of 1.13. Avnet, Inc. has a 1-year low of $44.78 and a 1-year high of $59.24.

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

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.