Avnet, Inc. (NASDAQ:AVT) Shares Purchased by Cwm LLC

Cwm LLC grew its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 58.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,463 shares of the company’s stock after buying an additional 3,132 shares during the quarter. Cwm LLC’s holdings in Avnet were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fifth Third Bancorp raised its position in shares of Avnet by 35.2% during the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock worth $42,000 after buying an additional 214 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Avnet by 4.2% in the 2nd quarter. Hsbc Holdings PLC now owns 5,448 shares of the company’s stock worth $280,000 after purchasing an additional 219 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in Avnet by 3.3% during the second quarter. Verdence Capital Advisors LLC now owns 7,016 shares of the company’s stock valued at $361,000 after purchasing an additional 223 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Avnet by 3.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 6,850 shares of the company’s stock valued at $340,000 after purchasing an additional 243 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Avnet by 1.9% during the first quarter. US Bancorp DE now owns 13,124 shares of the company’s stock valued at $651,000 after purchasing an additional 243 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.

Avnet Stock Down 1.4 %

Shares of NASDAQ:AVT opened at $54.66 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 2.32. The company has a market cap of $4.94 billion, a PE ratio of 8.84 and a beta of 1.15. Avnet, Inc. has a 52 week low of $42.67 and a 52 week high of $55.84. The firm has a 50 day simple moving average of $53.45 and a 200 day simple moving average of $52.28.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.95 by $0.27. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.37 billion. Avnet had a net margin of 2.10% and a return on equity of 9.92%. The firm’s quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.06 EPS. As a group, research analysts expect that Avnet, Inc. will post 4.57 earnings per share for the current year.

Avnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were given a $0.33 dividend. This is an increase from Avnet’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $1.32 dividend on an annualized basis and a yield of 2.41%. Avnet’s dividend payout ratio is presently 21.36%.

Analyst Upgrades and Downgrades

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

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.