Crossmark Global Holdings Inc. grew its holdings in Avnet, Inc. (NASDAQ:AVT - Free Report) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,667 shares of the company's stock after purchasing an additional 12,448 shares during the period. Crossmark Global Holdings Inc. owned about 0.26% of Avnet worth $12,147,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in Avnet by 35.2% in the second quarter. Fifth Third Bancorp now owns 822 shares of the company's stock worth $42,000 after purchasing an additional 214 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Avnet in the 3rd quarter worth $51,000. nVerses Capital LLC bought a new stake in shares of Avnet in the second quarter worth $77,000. Versant Capital Management Inc increased its position in Avnet by 729.7% during the second quarter. Versant Capital Management Inc now owns 1,535 shares of the company's stock valued at $79,000 after acquiring an additional 1,350 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Avnet by 68.4% in the second quarter. GAMMA Investing LLC now owns 1,527 shares of the company's stock valued at $79,000 after acquiring an additional 620 shares during the period. Hedge funds and other institutional investors own 95.78% of the company's stock.
A number of analysts have commented on AVT shares. Wells Fargo & Company upped their target price on shares of Avnet from $40.00 to $45.00 and gave the company an "underweight" rating in a report on Friday, August 9th. Truist Financial raised their price objective on Avnet from $48.00 to $52.00 and gave the stock a "hold" rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus lifted their price objective on Avnet from $50.00 to $55.00 and gave the company a "hold" rating in a research report on Friday, August 9th.
Read Our Latest Analysis on Avnet
NASDAQ:AVT traded down $0.57 during trading hours on Friday, reaching $56.56. The stock had a trading volume of 610,177 shares, compared to its average volume of 654,222. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. The stock has a market capitalization of $4.92 billion, a PE ratio of 14.81, a PEG ratio of 1.05 and a beta of 1.16. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24. The company has a 50 day moving average price of $53.60 and a two-hundred day moving average price of $53.01.
Avnet (NASDAQ:AVT - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the previous year, the firm posted $1.61 EPS. The business's quarterly revenue was down 11.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Avnet, Inc. will post 4.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Wednesday, September 11th. This is a positive change from Avnet's previous quarterly dividend of $0.31. Avnet's dividend payout ratio (DPR) is 34.56%.
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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