Avnet, Inc. (NASDAQ:AVT) Shares Sold by Cozad Asset Management Inc.

Cozad Asset Management Inc. decreased its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,864 shares of the company’s stock after selling 1,884 shares during the quarter. Cozad Asset Management Inc. owned about 0.06% of Avnet worth $2,715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of Avnet by 51.2% in the third quarter. Invesco Ltd. now owns 1,521,195 shares of the company’s stock valued at $73,306,000 after buying an additional 515,095 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Avnet by 971.5% in the third quarter. Assenagon Asset Management S.A. now owns 437,210 shares of the company’s stock valued at $21,069,000 after purchasing an additional 396,405 shares during the period. Victory Capital Management Inc. boosted its holdings in Avnet by 586.5% in the third quarter. Victory Capital Management Inc. now owns 259,092 shares of the company’s stock valued at $12,486,000 after purchasing an additional 221,353 shares during the period. Tudor Investment Corp Et Al boosted its holdings in Avnet by 212.8% in the third quarter. Tudor Investment Corp Et Al now owns 228,857 shares of the company’s stock valued at $11,029,000 after purchasing an additional 155,685 shares during the period. Finally, LSV Asset Management boosted its holdings in Avnet by 5.3% in the third quarter. LSV Asset Management now owns 3,077,468 shares of the company’s stock valued at $148,303,000 after purchasing an additional 154,700 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Down 1.1 %

Shares of AVT stock traded down $0.56 on Tuesday, reaching $49.40. 606,873 shares of the stock were exchanged, compared to its average volume of 570,929. The company has a current ratio of 2.34, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average price is $47.69 and its 200 day moving average price is $47.36. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 0.66 and a beta of 1.24. Avnet, Inc. has a twelve month low of $40.00 and a twelve month high of $51.65.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, January 31st. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. Avnet had a net margin of 2.62% and a return on equity of 13.60%. The firm had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. As a group, sell-side analysts expect that Avnet, Inc. will post 5.25 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a $0.31 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.24 annualized dividend and a yield of 2.51%. Avnet’s dividend payout ratio is presently 17.13%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group decreased their target price on Avnet from $48.00 to $42.00 and set a “sell” rating for the company in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, Avnet currently has an average rating of “Hold” and an average target price of $45.50.

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.