Park Avenue Securities LLC Has $265,000 Stock Position in Avnet, Inc. (NASDAQ:AVT)

Park Avenue Securities LLC decreased its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,511 shares of the company’s stock after selling 455 shares during the quarter. Park Avenue Securities LLC’s holdings in Avnet were worth $265,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AVT. Principal Securities Inc. lifted its holdings in shares of Avnet by 18.2% during the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock worth $72,000 after acquiring an additional 211 shares during the period. World Investment Advisors increased its position in Avnet by 3.7% in the 4th quarter. World Investment Advisors now owns 7,223 shares of the company’s stock valued at $378,000 after acquiring an additional 255 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Avnet by 30.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,456 shares of the company’s stock valued at $76,000 after purchasing an additional 340 shares during the last quarter. Transcend Capital Advisors LLC boosted its stake in Avnet by 2.3% during the 4th quarter. Transcend Capital Advisors LLC now owns 16,652 shares of the company’s stock worth $871,000 after acquiring an additional 381 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in Avnet by 2.8% in the fourth quarter. Tidal Investments LLC now owns 13,930 shares of the company’s stock valued at $729,000 after buying an additional 383 shares in the last quarter. 95.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on AVT. Truist Financial lowered their target price on shares of Avnet from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company reduced their target price on shares of Avnet from $45.00 to $43.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st.

Avnet Trading Down 2.0%

AVT opened at $50.49 on Monday. 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 stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 1.13 and a beta of 1.02. Avnet, Inc. has a twelve month low of $39.22 and a twelve month high of $59.24. The company has a 50-day simple moving average of $49.58 and a 200 day simple moving average of $50.55.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, April 30th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.72 by $0.12. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.25 billion. Avnet had a return on equity of 7.49% and a net margin of 1.41%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 earnings per share. Analysts predict that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Wednesday, June 4th. Avnet’s dividend payout ratio is currently 36.97%.

Insider Activity

In other news, VP Elizabeth Mcmullen sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $52.80, for a total value of $211,200.00. Following the completion of the transaction, the vice president now owns 14,626 shares of the company’s stock, valued at $772,252.80. This represents a 21.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by insiders.

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.