US Bancorp DE Has $756,000 Stake in Avnet, Inc. (NASDAQ:AVT)

US Bancorp DE grew its position in Avnet, Inc. (NASDAQ:AVT) by 10.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,448 shares of the company’s stock after buying an additional 1,321 shares during the quarter. US Bancorp DE’s holdings in Avnet were worth $756,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AVT. Principal Securities Inc. grew its holdings in Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after acquiring an additional 211 shares during the last quarter. GAMMA Investing LLC increased 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 acquiring an additional 341 shares in the last quarter. KBC Group NV raised its holdings in Avnet by 55.7% during the fourth quarter. KBC Group NV now owns 3,356 shares of the company’s stock worth $176,000 after buying an additional 1,200 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Avnet during the 3rd quarter valued at about $209,000. Finally, Longboard Asset Management LP purchased a new position in Avnet during the 4th quarter worth $207,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Trading Down 1.7 %

Shares of AVT opened at $49.59 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.13 and a beta of 1.09. The firm has a 50 day moving average price of $51.55 and a 200-day moving average price of $53.00. Avnet, Inc. has a fifty-two week low of $45.50 and a fifty-two week high of $59.24.

Avnet (NASDAQ:AVT) last announced 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%. As a group, equities research analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s dividend payout ratio is currently 37.39%.

Wall Street Analyst Weigh In

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

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.