Avnet, Inc. (NASDAQ:AVT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in Avnet, Inc. (NASDAQ:AVT) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,926 shares of the company’s stock after selling 1,695 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Avnet worth $2,403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in shares of Avnet during the third quarter valued at approximately $51,000. Principal Securities Inc. raised its holdings in shares of Avnet by 18.2% during the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after buying an additional 211 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Avnet by 18.6% during the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after buying an additional 341 shares during the last quarter. KBC Group NV raised its holdings in shares of Avnet by 55.7% during the fourth quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after buying an additional 1,200 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Avnet during the third quarter valued at approximately $209,000. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Avnet Price Performance

Shares of NASDAQ:AVT opened at $50.44 on Friday. Avnet, Inc. has a 12 month low of $45.50 and a 12 month high of $59.24. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.13 and a beta of 1.09. The stock’s 50 day moving average price is $51.65 and its 200 day moving average price is $53.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15.

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

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.62%. Avnet’s dividend payout ratio is currently 37.39%.

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.