Avnet, Inc. (NASDAQ:AVT) Shares Bought by Brandes Investment Partners LP

Brandes Investment Partners LP raised its holdings in Avnet, Inc. (NASDAQ:AVT) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,178 shares of the company’s stock after acquiring an additional 1,436 shares during the quarter. Brandes Investment Partners LP’s holdings in Avnet were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Greenhaven Associates Inc. lifted its stake in Avnet by 1.0% during the fourth quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company’s stock valued at $207,336,000 after buying an additional 38,185 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Avnet by 11,848.6% during the fourth quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock valued at $148,623,000 after buying an additional 2,816,889 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Avnet by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,116,697 shares of the company’s stock valued at $58,426,000 after buying an additional 43,547 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Avnet by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 921,854 shares of the company’s stock worth $48,231,000 after purchasing an additional 5,209 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Avnet by 2.3% in the fourth quarter. Allianz Asset Management GmbH now owns 873,340 shares of the company’s stock worth $45,693,000 after purchasing an additional 19,331 shares in the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Trading Up 2.5 %

NASDAQ:AVT opened at $47.79 on Friday. The stock’s 50 day moving average price is $51.17 and its 200 day moving average price is $52.80. Avnet, Inc. has a 52 week low of $45.50 and a 52 week high of $59.24. The company has a market capitalization of $4.13 billion, a P/E ratio of 13.54, a P/E/G ratio of 1.13 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39.

Avnet (NASDAQ:AVT) last released its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 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%. On average, research analysts forecast that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.76%. Avnet’s dividend payout ratio is currently 37.39%.

Wall Street Analysts Forecast Growth

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