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

Mutual of America Capital Management LLC trimmed its position in shares of Avnet, Inc. (NASDAQ:AVT) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,926 shares of the company’s stock after selling 1,695 shares during the period. Mutual of America Capital Management LLC’s holdings in Avnet were worth $2,403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVT. Capital Performance Advisors LLP purchased a new position in shares of Avnet during the 3rd quarter valued at $51,000. Principal Securities Inc. grew its holdings in shares of Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after acquiring an additional 211 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Avnet by 18.6% during the 4th 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 grew its holdings in shares of Avnet by 55.7% during the 4th quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Avnet during the 3rd quarter valued at $209,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Avnet Stock Up 2.6 %

AVT stock opened at $50.44 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. Avnet, Inc. has a 1 year low of $45.50 and a 1 year high of $59.24. The company has a fifty day simple moving average of $51.65 and a 200 day simple moving average of $53.10. The firm has a market cap of $4.36 billion, a PE ratio of 14.29, a PEG ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT) last released its quarterly earnings data 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%. Sell-side analysts anticipate that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s dividend payout ratio is 37.39%.

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.