Grantham Mayo Van Otterloo & Co. LLC Sells 5,455 Shares of Avnet, Inc. (NASDAQ:AVT)

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in Avnet, Inc. (NASDAQ:AVT) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,746 shares of the company’s stock after selling 5,455 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.17% of Avnet worth $7,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Greenhaven Associates Inc. boosted its position in Avnet by 1.0% in the 4th quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company’s stock valued at $207,336,000 after buying an additional 38,185 shares during the last quarter. American Century Companies Inc. increased its position in Avnet by 2.1% in the fourth quarter. American Century Companies Inc. now owns 3,502,425 shares of the company’s stock worth $183,247,000 after purchasing an additional 72,715 shares during the period. Pacer Advisors Inc. increased its position in Avnet by 11,848.6% in the fourth quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock worth $148,623,000 after purchasing an additional 2,816,889 shares during the period. Bank of New York Mellon Corp raised 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 worth $58,426,000 after purchasing an additional 43,547 shares during the last quarter. Finally, Norges Bank acquired a new position in Avnet during the 4th quarter valued at about $52,924,000. Institutional investors and hedge funds own 95.78% of the company’s stock.

Wall Street Analysts Forecast Growth

AVT has been the subject of several analyst reports. Bank of America cut shares of Avnet from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial lowered their target price 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 Stock Performance

Shares of AVT stock opened at $42.26 on Monday. The stock has a market cap of $3.66 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The stock has a 50-day moving average of $49.57 and a 200-day moving average of $52.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. Avnet, Inc. has a one year low of $40.93 and a one year high of $59.24.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, January 29th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. As a group, sell-side analysts expect that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.32 annualized dividend and a yield of 3.12%. Avnet’s dividend payout ratio is presently 37.39%.

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.