Avnet, Inc. (NASDAQ:AVT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in Avnet, Inc. (NASDAQ:AVT) by 13.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,169 shares of the company’s stock after selling 15,500 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of Avnet worth $4,625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AVT. Deutsche Bank AG lifted its holdings in shares of Avnet by 9.8% in the 4th quarter. Deutsche Bank AG now owns 29,843 shares of the company’s stock worth $1,561,000 after acquiring an additional 2,655 shares during the last quarter. Barclays PLC lifted its holdings in shares of Avnet by 2.4% in the 4th quarter. Barclays PLC now owns 94,036 shares of the company’s stock worth $4,920,000 after acquiring an additional 2,194 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Avnet by 245.8% in the 4th quarter. Jane Street Group LLC now owns 45,351 shares of the company’s stock worth $2,373,000 after acquiring an additional 32,235 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Avnet by 4,565.4% in the 1st quarter. GAMMA Investing LLC now owns 101,566 shares of the company’s stock worth $4,884,000 after acquiring an additional 99,389 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Avnet by 14.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 49,763 shares of the company’s stock worth $2,393,000 after acquiring an additional 6,422 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Avnet

In other Avnet news, VP Elizabeth Mcmullen sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $52.80, for a total value of $211,200.00. Following the sale, the vice president directly owned 14,626 shares of the company’s stock, valued at approximately $772,252.80. This represents a 21.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.50% of the company’s stock.

Avnet Price Performance

Avnet stock opened at $56.27 on Monday. The firm has a market cap of $4.72 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. Avnet, Inc. has a 52-week low of $39.22 and a 52-week high of $59.24. The company has a quick ratio of 1.13, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $51.30 and its two-hundred day moving average is $50.40.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, April 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.25 billion. Avnet had a net margin of 1.43% and a return on equity of 6.96%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. On average, research analysts expect that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Wednesday, June 4th. Avnet’s dividend payout ratio is presently 36.97%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Avnet from $45.00 to $43.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Truist Financial decreased their price objective 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.

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.