Public Employees Retirement System of Ohio Sells 2,284 Shares of Avnet, Inc. (NASDAQ:AVT)

Public Employees Retirement System of Ohio reduced its stake in shares of Avnet, Inc. (NASDAQ:AVTFree Report) by 5.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 38,826 shares of the company’s stock after selling 2,284 shares during the period. Public Employees Retirement System of Ohio’s holdings in Avnet were worth $1,871,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. CWM LLC grew its stake in shares of Avnet by 330.2% during the third quarter. CWM LLC now owns 641 shares of the company’s stock valued at $31,000 after buying an additional 492 shares during the last quarter. Amundi bought a new position in shares of Avnet during the fourth quarter valued at approximately $37,000. Money Concepts Capital Corp bought a new position in shares of Avnet during the fourth quarter valued at approximately $37,000. Quantbot Technologies LP bought a new position in shares of Avnet during the first quarter valued at approximately $38,000. Finally, Parkside Financial Bank & Trust grew its stake 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 buying an additional 265 shares during the last quarter. 95.34% of the stock is owned by institutional investors.

Avnet Stock Down 0.1 %

Shares of NASDAQ AVT opened at $47.79 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.05 and a current ratio of 2.34. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 6.60, a PEG ratio of 0.63 and a beta of 1.23. The stock has a 50 day moving average price of $46.48 and a 200 day moving average price of $47.28. Avnet, Inc. has a 52-week low of $39.64 and a 52-week high of $51.65.

Avnet (NASDAQ:AVTGet Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.01. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.15 billion. Avnet had a return on equity of 13.60% and a net margin of 2.62%. During the same quarter in the previous year, the business earned $2.00 earnings per share. Sell-side analysts expect that Avnet, Inc. will post 5.25 earnings per share for the current year.

Avnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.31 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.59%. Avnet’s dividend payout ratio is presently 17.13%.

Analysts Set New Price Targets

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

Read Our Latest Analysis on AVT

Avnet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Avnet (NASDAQ:AVT)

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