Alaska Permanent Fund Corp Raises Position in Avnet, Inc. (NASDAQ:AVT)

Alaska Permanent Fund Corp increased its holdings in Avnet, Inc. (NASDAQ:AVT) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,578 shares of the company’s stock after purchasing an additional 478 shares during the quarter. Alaska Permanent Fund Corp owned 0.06% of Avnet worth $2,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Avnet by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 10,519,704 shares of the company’s stock worth $506,945,000 after acquiring an additional 135,171 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Avnet by 0.5% in the 3rd quarter. Pzena Investment Management LLC now owns 8,730,260 shares of the company’s stock worth $420,711,000 after acquiring an additional 42,234 shares during the last quarter. Greenhaven Associates Inc. grew its holdings in Avnet by 1.7% in the 4th quarter. Greenhaven Associates Inc. now owns 3,834,799 shares of the company’s stock worth $193,274,000 after acquiring an additional 62,710 shares during the last quarter. LSV Asset Management grew its holdings in Avnet by 5.3% in the 3rd quarter. LSV Asset Management now owns 3,077,468 shares of the company’s stock worth $148,303,000 after acquiring an additional 154,700 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Avnet by 51.2% in the 3rd quarter. Invesco Ltd. now owns 1,521,195 shares of the company’s stock worth $73,306,000 after acquiring an additional 515,095 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Trading Down 0.4 %

Shares of AVT traded down $0.19 during trading hours on Thursday, reaching $49.05. 38,118 shares of the company traded hands, compared to its average volume of 563,902. The company’s fifty day moving average price is $47.41 and its two-hundred day moving average price is $47.34. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 6.80, a price-to-earnings-growth ratio of 0.64 and a beta of 1.24. The company has a quick ratio of 1.05, a current ratio of 2.34 and a debt-to-equity ratio of 0.55. Avnet, Inc. has a 12 month low of $39.64 and a 12 month high of $51.65.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, January 31st. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.01. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.15 billion. Avnet had a net margin of 2.62% and a return on equity of 13.60%. During the same quarter in the previous year, the firm posted $2.00 EPS. Equities research analysts predict that Avnet, Inc. will post 5.25 earnings per share for the current fiscal year.

Avnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.53%. The ex-dividend date was Tuesday, March 5th. Avnet’s payout ratio is currently 17.13%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group cut their price target on shares of Avnet from $48.00 to $42.00 and set a “sell” rating on the stock in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.50.

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.