River Road Asset Management LLC Buys 4,991 Shares of Avnet, Inc. (NASDAQ:AVT)

River Road Asset Management LLC lifted its position in Avnet, Inc. (NASDAQ:AVT) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,044 shares of the company’s stock after buying an additional 4,991 shares during the quarter. River Road Asset Management LLC owned about 0.20% of Avnet worth $9,001,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Synergy Investment Management LLC acquired a new position in Avnet during the fourth quarter worth approximately $38,000. Principal Securities Inc. increased its holdings in shares of Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after acquiring an additional 211 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Avnet by 18.6% during the 4th quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock worth $114,000 after acquiring an additional 341 shares during the last quarter. KBC Group NV raised its stake in Avnet by 55.7% in the 4th 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, Ontario Teachers Pension Plan Board acquired a new stake in Avnet during the 3rd quarter valued at $209,000. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Stock Performance

Shares of NASDAQ AVT opened at $47.98 on Wednesday. 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 $4.15 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.13 and a beta of 1.09. The stock’s fifty day moving average price is $51.46 and its two-hundred day moving average price is $52.95. Avnet, Inc. has a one year low of $45.50 and a one year high of $59.24.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) 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, equities analysts forecast that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.33 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.75%. Avnet’s dividend payout ratio is presently 37.39%.

Wall Street Analysts Forecast Growth

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

Avnet Company Profile

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.