Avnet, Inc. (NASDAQ:AVT) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its holdings in Avnet, Inc. (NASDAQ:AVT) by 1,768.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,167 shares of the company’s stock after buying an additional 2,051 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Avnet were worth $113,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Greenhaven Associates Inc. grew its holdings in Avnet by 1.0% during the 4th quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company’s stock valued at $207,336,000 after purchasing an additional 38,185 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Avnet by 11,848.6% during the 4th quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock valued at $148,623,000 after purchasing an additional 2,816,889 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Avnet by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,116,697 shares of the company’s stock valued at $58,426,000 after purchasing an additional 43,547 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Avnet by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 921,854 shares of the company’s stock valued at $48,231,000 after purchasing an additional 5,209 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Avnet by 2.3% during the 4th quarter. Allianz Asset Management GmbH now owns 873,340 shares of the company’s stock valued at $45,693,000 after purchasing an additional 19,331 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Avnet Trading Down 2.4 %

Avnet stock opened at $46.99 on Friday. The firm’s 50-day moving average is $50.80 and its 200-day moving average is $52.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. Avnet, Inc. has a 1 year low of $46.24 and a 1 year high of $59.24. The company has a market cap of $4.06 billion, a P/E ratio of 13.31, a PEG ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT) last posted its quarterly 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 return on equity of 7.49% and a net margin of 1.41%. On average, equities analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.33 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 annualized dividend and a yield of 2.81%. Avnet’s dividend payout ratio is presently 37.39%.

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.