Thoroughbred Financial Services LLC Acquires New Position in Avnet, Inc. (NASDAQ:AVT)

Thoroughbred Financial Services LLC bought a new position in shares of Avnet, Inc. (NASDAQ:AVT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,188 shares of the company’s stock, valued at approximately $219,000.

Other large investors have also made changes to their positions in the company. Synergy Investment Management LLC purchased a new stake in shares of Avnet in the 4th quarter valued at approximately $38,000. Principal Securities Inc. lifted its holdings in Avnet by 18.2% in the fourth quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after acquiring an additional 211 shares during the last quarter. Harvest Fund Management Co. Ltd grew its position in Avnet by 1,768.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,167 shares of the company’s stock worth $113,000 after acquiring an additional 2,051 shares during the period. GAMMA Investing LLC increased its stake in Avnet by 18.6% during the fourth 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. Finally, Headlands Technologies LLC acquired a new stake in Avnet during the fourth quarter worth $146,000. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

Avnet Stock Down 0.4 %

Shares of NASDAQ AVT opened at $42.11 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $49.36 and its two-hundred day moving average is $52.28. Avnet, Inc. has a 52-week low of $39.22 and a 52-week high of $59.24. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.13 and a beta of 1.04.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data 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 net margin of 1.41% and a return on equity of 7.49%. Research analysts predict that Avnet, Inc. will post 3.41 EPS for the current year.

Avnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.33 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.32 annualized dividend and a dividend yield of 3.13%. Avnet’s dividend payout ratio is presently 37.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Truist Financial decreased their price target on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Thursday, January 30th. Bank of America cut shares of Avnet from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $58.00 to $48.00 in a research 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.