Atlas Capital Advisors Inc. Has $557,000 Stock Position in Avnet, Inc. (NASDAQ:AVT)

Atlas Capital Advisors Inc. increased its holdings in Avnet, Inc. (NASDAQ:AVT) by 5.1% during the fourth quarter, HoldingsChannel reports. The fund owned 10,645 shares of the company’s stock after acquiring an additional 518 shares during the quarter. Atlas Capital Advisors Inc.’s holdings in Avnet were worth $557,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Securities Inc. grew its stake in shares of Avnet by 18.2% in 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 in the last quarter. Coldstream Capital Management Inc. grew its position in Avnet by 5.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock worth $246,000 after purchasing an additional 222 shares in the last quarter. World Investment Advisors grew its position in Avnet by 3.7% in the 4th quarter. World Investment Advisors now owns 7,223 shares of the company’s stock worth $378,000 after purchasing an additional 255 shares in the last quarter. Highland Capital Management LLC increased its stake in Avnet by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 4,234 shares of the company’s stock valued at $222,000 after buying an additional 261 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position 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 buying an additional 341 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Analyst Ratings Changes

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

Avnet Stock Performance

Avnet stock opened at $42.26 on Friday. Avnet, Inc. has a fifty-two week low of $40.93 and a fifty-two week high of $59.24. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.39. The stock has a market cap of $3.66 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The firm’s fifty day moving average price is $49.57 and its 200-day moving average price is $52.33.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate 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 research analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) 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.