Oregon Public Employees Retirement Fund Reduces Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Oregon Public Employees Retirement Fund reduced its stake in Avnet, Inc. (NASDAQ:AVT) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,677 shares of the company’s stock after selling 300 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Avnet were worth $925,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Avnet in the third quarter valued at approximately $51,000. Principal Securities Inc. increased its stake in Avnet by 18.2% in the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after purchasing an additional 211 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Avnet by 18.6% in 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 during the period. KBC Group NV boosted its holdings in shares of Avnet by 55.7% in the fourth 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 during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Avnet by 442.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,697 shares of the company’s stock valued at $200,000 after acquiring an additional 3,015 shares during the period. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on AVT. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $58.00 to $48.00 in a report on Thursday, January 30th. Truist Financial decreased their price objective on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, January 30th.

Avnet Stock Performance

NASDAQ:AVT opened at $50.54 on Friday. The firm’s fifty day moving average price is $52.00 and its 200 day moving average price is $53.23. Avnet, Inc. has a 1-year low of $45.50 and a 1-year high of $59.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 1.13 and a beta of 1.13.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. On average, sell-side analysts expect that Avnet, Inc. will post 3.41 EPS for the current 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 given 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 2.61%. Avnet’s dividend payout ratio (DPR) is 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.