Mackenzie Financial Corp Increases Stake in Avnet, Inc. (NASDAQ:AVT)

Mackenzie Financial Corp increased its stake in Avnet, Inc. (NASDAQ:AVTGet Rating) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,500 shares of the company’s stock after buying an additional 1,050 shares during the period. Mackenzie Financial Corp’s holdings in Avnet were worth $1,179,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Avnet by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 10,812,840 shares of the company’s stock worth $438,893,000 after acquiring an additional 49,576 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Avnet by 10.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,670,372 shares of the company’s stock worth $189,576,000 after buying an additional 427,011 shares during the last quarter. Victory Capital Management Inc. raised its stake in Avnet by 6.0% during the first quarter. Victory Capital Management Inc. now owns 2,841,528 shares of the company’s stock valued at $115,486,000 after buying an additional 160,391 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in Avnet by 14.7% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,885,119 shares of the company’s stock worth $76,517,000 after acquiring an additional 241,551 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Avnet by 8.5% in the first quarter. LSV Asset Management now owns 1,457,334 shares of the company’s stock worth $59,153,000 after acquiring an additional 114,522 shares during the last quarter. 98.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AVT has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on shares of Avnet from $48.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, October 10th. Wells Fargo & Company cut shares of Avnet from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $45.00 to $35.00 in a report on Friday, September 16th. Finally, StockNews.com cut Avnet from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.86.

Avnet Trading Up 0.8 %

Shares of AVT stock opened at $45.21 on Thursday. The stock has a market capitalization of $4.14 billion, a P/E ratio of 5.81, a P/E/G ratio of 0.26 and a beta of 1.32. The company has a current ratio of 2.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.45. The firm’s 50 day moving average is $40.28 and its 200 day moving average is $42.44. Avnet, Inc. has a 12-month low of $35.45 and a 12-month high of $50.19.

Avnet (NASDAQ:AVTGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.09. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.36 billion. Avnet had a return on equity of 18.23% and a net margin of 3.00%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the business posted $1.22 EPS. Research analysts expect that Avnet, Inc. will post 6.97 earnings per share for the current year.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Wednesday, December 7th will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, December 6th. This represents a $1.16 dividend on an annualized basis and a yield of 2.57%. Avnet’s dividend payout ratio is currently 14.91%.

Avnet Company Profile

(Get Rating)

Avnet, Inc, a technology solutions company, markets, sells, and distributes electronic components. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical devices; and other integrated components from electronic component manufacturers.

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Institutional Ownership by Quarter for Avnet (NASDAQ:AVT)

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