Pacer Advisors Inc. Acquires 10,569 Shares of Avnet, Inc. (NASDAQ:AVT)

Pacer Advisors Inc. lifted its holdings in Avnet, Inc. (NASDAQ:AVTFree Report) by 137.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 18,272 shares of the company’s stock after acquiring an additional 10,569 shares during the quarter. Pacer Advisors Inc.’s holdings in Avnet were worth $921,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Natixis Advisors L.P. purchased a new position in shares of Avnet in the first quarter worth $448,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Avnet in the first quarter worth $1,019,000. MetLife Investment Management LLC increased its stake in shares of Avnet by 33.1% in the first quarter. MetLife Investment Management LLC now owns 64,005 shares of the company’s stock worth $2,598,000 after buying an additional 15,921 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Avnet by 10.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,269 shares of the company’s stock worth $1,472,000 after buying an additional 3,372 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in shares of Avnet by 9.8% in the first quarter. Great West Life Assurance Co. Can now owns 63,382 shares of the company’s stock worth $2,658,000 after buying an additional 5,646 shares during the period. 95.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, The Goldman Sachs Group reduced their price objective on shares of Avnet from $48.00 to $42.00 and set a “sell” rating on the stock in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.50.

Get Our Latest Stock Analysis on Avnet

Avnet Stock Up 0.8 %

Shares of Avnet stock opened at $49.24 on Thursday. 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 company’s fifty day simple moving average is $46.75 and its two-hundred day simple moving average is $47.35. The company has a market cap of $4.45 billion, a P/E ratio of 6.80, a PEG ratio of 0.65 and a beta of 1.24. Avnet, Inc. has a 12-month low of $39.64 and a 12-month high of $51.65.

Avnet (NASDAQ:AVTGet Free Report) last released its earnings results on Wednesday, January 31st. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.15 billion. Avnet had a net margin of 2.62% and a return on equity of 13.60%. During the same period in the prior year, the firm earned $2.00 EPS. Research analysts anticipate that Avnet, Inc. will post 5.25 EPS for the current year.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Tuesday, March 5th. Avnet’s dividend payout ratio is presently 17.13%.

About Avnet

(Free Report)

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.

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Institutional Ownership by Quarter for Avnet (NASDAQ:AVT)

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