World Investment Advisors LLC Makes New Investment in Avnet, Inc. (NASDAQ:AVT)

World Investment Advisors LLC bought a new position in shares of Avnet, Inc. (NASDAQ:AVT) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 6,968 shares of the company’s stock, valued at approximately $378,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TCW Group Inc. lifted its stake in Avnet by 0.9% during the third quarter. TCW Group Inc. now owns 59,145 shares of the company’s stock worth $3,212,000 after purchasing an additional 534 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Avnet by 5.1% during the third quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock worth $246,000 after purchasing an additional 222 shares during the last quarter. Barclays PLC increased its holdings in shares of Avnet by 87.6% during the third quarter. Barclays PLC now owns 91,842 shares of the company’s stock worth $4,988,000 after buying an additional 42,880 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Avnet during the third quarter worth $1,021,000. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Avnet by 430.6% during the third quarter. Kovitz Investment Group Partners LLC now owns 24,208 shares of the company’s stock worth $1,289,000 after buying an additional 19,646 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors.

Avnet Stock Down 1.9 %

Shares of NASDAQ:AVT opened at $53.10 on Wednesday. The company has a fifty day moving average of $54.54 and a 200-day moving average of $53.39. The company has a market capitalization of $4.62 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.07 and a current ratio of 2.25. Avnet, Inc. has a 52-week low of $43.62 and a 52-week high of $59.24.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.06. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 earnings per share. On average, equities analysts predict that Avnet, Inc. will post 4.09 EPS for the current fiscal year.

Avnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.49%. Avnet’s dividend payout ratio (DPR) is presently 34.55%.

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.