Jane Street Group LLC Acquires 32,235 Shares of Avnet, Inc. (NASDAQ:AVT)

Jane Street Group LLC boosted its holdings in Avnet, Inc. (NASDAQ:AVT) by 245.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,351 shares of the company’s stock after purchasing an additional 32,235 shares during the period. Jane Street Group LLC’s holdings in Avnet were worth $2,373,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AVT. Barclays PLC raised its stake in shares of Avnet by 87.6% during the third quarter. Barclays PLC now owns 91,842 shares of the company’s stock valued at $4,988,000 after acquiring an additional 42,880 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Avnet by 17.1% during the third quarter. Franklin Resources Inc. now owns 52,290 shares of the company’s stock valued at $2,895,000 after acquiring an additional 7,619 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Avnet by 22.6% during the fourth quarter. Park Avenue Securities LLC now owns 5,966 shares of the company’s stock valued at $312,000 after acquiring an additional 1,101 shares during the last quarter. Greenhaven Associates Inc. raised its stake in shares of 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 acquiring an additional 38,185 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Avnet by 16.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 54,221 shares of the company’s stock valued at $2,837,000 after acquiring an additional 7,800 shares during the last quarter. 95.78% of the stock is owned by institutional investors.

Avnet Stock Down 0.5%

AVT opened at $51.59 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 $39.22 and a 1-year high of $59.24. The company has a market capitalization of $4.33 billion, a PE ratio of 14.61, a PEG ratio of 1.13 and a beta of 0.98. The firm’s 50 day simple moving average is $48.00 and its two-hundred day simple moving average is $51.15.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Avnet had a net margin of 1.41% and a return on equity of 7.49%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 earnings per share. As a group, equities analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.56%. Avnet’s payout ratio is currently 36.97%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Avnet from $45.00 to $43.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. Truist Financial reduced their price target on shares of Avnet from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Finally, Bank of America cut shares of Avnet from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $58.00 to $48.00 in a research report on Thursday, January 30th.

Insiders Place Their Bets

In other news, VP Elizabeth Mcmullen sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $52.80, for a total value of $211,200.00. Following the completion of the sale, the vice president now owns 14,626 shares in the company, valued at approximately $772,252.80. This trade represents a 21.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

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.