DekaBank Deutsche Girozentrale Has $233,000 Stock Position in Avnet, Inc. (NASDAQ:AVT)

DekaBank Deutsche Girozentrale reduced its position in shares of Avnet, Inc. (NASDAQ:AVT) by 87.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,615 shares of the company’s stock after selling 31,918 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Avnet were worth $233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Venturi Wealth Management LLC raised its stake in shares of Avnet by 46.5% in the fourth quarter. Venturi Wealth Management LLC now owns 655 shares of the company’s stock worth $33,000 after purchasing an additional 208 shares during the last quarter. Avantax Planning Partners Inc. increased its position in shares of Avnet by 5.4% during the third quarter. Avantax Planning Partners Inc. now owns 4,878 shares of the company’s stock valued at $235,000 after acquiring an additional 249 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Avnet by 19.1% during the third quarter. Parkside Financial Bank & Trust now owns 1,649 shares of the company’s stock valued at $79,000 after acquiring an additional 265 shares during the last quarter. Jane Street Group LLC increased its position in shares of Avnet by 3.9% during the first quarter. Jane Street Group LLC now owns 8,498 shares of the company’s stock valued at $345,000 after acquiring an additional 317 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Avnet by 5.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 6,659 shares of the company’s stock valued at $301,000 after acquiring an additional 351 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, The Goldman Sachs Group decreased their price target on Avnet from $48.00 to $42.00 and set a “sell” rating for the company in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, Avnet currently has an average rating of “Hold” and a consensus target price of $45.50.

Avnet Stock Performance

Shares of AVT opened at $47.11 on Wednesday. The stock has a 50 day moving average of $47.07 and a 200 day moving average of $47.36. Avnet, Inc. has a 12 month low of $39.64 and a 12 month high of $51.65. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 0.62 and a beta of 1.24. The company has a current ratio of 2.34, a quick ratio of 1.05 and a debt-to-equity ratio of 0.55.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.01. Avnet had a return on equity of 13.60% and a net margin of 2.62%. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period in the prior year, the company earned $2.00 earnings per share. As a group, sell-side analysts forecast that Avnet, Inc. will post 5.25 earnings per share for the current year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Tuesday, March 5th. Avnet’s dividend payout ratio (DPR) is 17.13%.

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.