Avnet, Inc. (NASDAQ:AVT) Shares Sold by Choreo LLC

Choreo LLC decreased its holdings in Avnet, Inc. (NASDAQ:AVT) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,007 shares of the company’s stock after selling 201 shares during the quarter. Choreo LLC’s holdings in Avnet were worth $417,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC increased its position in shares of Avnet by 24.7% in the third quarter. FMR LLC now owns 576,794 shares of the company’s stock valued at $31,326,000 after buying an additional 114,217 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Avnet by 227.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock valued at $11,197,000 after acquiring an additional 148,588 shares during the period. Weiss Asset Management LP increased its holdings in Avnet by 35.7% in the 3rd quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock worth $13,829,000 after acquiring an additional 66,973 shares in the last quarter. JPMorgan Chase & Co. raised its position in Avnet by 13.2% during the third quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company’s stock worth $13,213,000 after acquiring an additional 28,453 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in 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 purchasing an additional 1,101 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Price Performance

Shares of NASDAQ AVT opened at $49.77 on Thursday. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.06 and a beta of 1.13. Avnet, Inc. has a 52 week low of $43.78 and a 52 week high of $59.24. The firm has a 50-day simple moving average of $52.56 and a 200-day simple moving average of $53.28. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

Avnet (NASDAQ:AVT) last released its earnings results 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 return on equity of 7.49% and a net margin of 1.41%. On average, equities analysts predict that Avnet, Inc. will post 3.57 earnings per share for the current fiscal year.

Avnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.65%. The ex-dividend date was Wednesday, December 4th. Avnet’s payout ratio is currently 37.39%.

Analyst Ratings Changes

AVT has been the subject of a number of research reports. Bank of America cut shares of Avnet from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $58.00 to $48.00 in a research note on Thursday, January 30th. Truist Financial reduced their target price on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, January 30th.

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.