Buckhead Capital Management LLC maintained its stake in shares of Avnet, Inc. (NYSE:AVT) during the third quarter, according to its most recent disclosure with the SEC. The firm owned 120,000 shares of the company’s stock at the end of the third quarter. Buckhead Capital Management LLC owned approximately 0.09% of Avnet worth $4,927,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in AVT. BlackRock Japan Co. Ltd boosted its stake in shares of Avnet by 1.1% in the third quarter. BlackRock Japan Co. Ltd now owns 176,985 shares of the company’s stock worth $7,267,000 after buying an additional 1,979 shares during the period. Becker Capital Management Inc. boosted its stake in shares of Avnet by 3.4% in the second quarter. Becker Capital Management Inc. now owns 757,442 shares of the company’s stock worth $30,684,000 after buying an additional 24,913 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Avnet by 0.4% in the third quarter. UBS Asset Management Americas Inc. now owns 837,031 shares of the company’s stock worth $34,369,000 after buying an additional 3,509 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Avnet by 62.7% in the third quarter. JPMorgan Chase & Co. now owns 974,265 shares of the company’s stock worth $40,005,000 after buying an additional 375,424 shares during the period. Finally, Nomura Holdings Inc. boosted its stake in shares of Avnet by 63.7% in the second quarter. Nomura Holdings Inc. now owns 9,500 shares of the company’s stock worth $386,000 after buying an additional 3,698 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.
Shares of Avnet, Inc. (NYSE:AVT) traded up 1.279% during trading on Wednesday, reaching $47.115. 199,716 shares of the company were exchanged. Avnet, Inc. has a 1-year low of $37.10 and a 1-year high of $51.50. The firm’s 50 day moving average is $47.38 and its 200 day moving average is $43.02. The firm has a market capitalization of $6.01 billion, a P/E ratio of 13.956 and a beta of 1.22.
Avnet (NYSE:AVT) last released its earnings results on Thursday, October 27th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Avnet had a return on equity of 11.16% and a net margin of 1.90%. The business had revenue of $6.04 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same quarter last year, the firm posted $1.12 earnings per share. The business’s revenue was down 13.3% compared to the same quarter last year. On average, equities analysts anticipate that Avnet, Inc. will post $3.20 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Tuesday, December 6th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.46%. Avnet’s payout ratio is 20.12%.
AVT has been the topic of a number of research reports. Citigroup Inc. dropped their target price on shares of Avnet from $37.00 to $35.00 and set a “sell” rating on the stock in a report on Thursday, September 22nd. Raymond James Financial, Inc. upgraded shares of Avnet from an “outperform” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a report on Tuesday, October 4th. Stifel Nicolaus cut shares of Avnet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $47.00 to $44.00 in a research note on Tuesday, September 20th. Longbow Research upgraded shares of Avnet from a “neutral” rating to a “buy” rating in a research note on Friday, October 21st. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Avnet from a “sell” rating to a “hold” rating and set a $48.00 price target on the stock in a research note on Thursday, October 20th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Avnet currently has a consensus rating of “Hold” and an average target price of $44.22.
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, information technology solutions and services, and embedded subsystems. The Company operates through two segments: Electronics Marketing (EM) and Technology Solutions (TS). The EM segment markets and sells semiconductors and interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
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