Cozad Asset Management Inc. Sells 344 Shares of Avnet, Inc. (NASDAQ:AVT)

Cozad Asset Management Inc. trimmed its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,084 shares of the company’s stock after selling 344 shares during the quarter. Cozad Asset Management Inc. owned 0.05% of Avnet worth $2,411,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC increased its stake in Avnet by 24.7% in the 3rd quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after acquiring an additional 114,217 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Avnet by 227.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock worth $11,197,000 after acquiring an additional 148,588 shares during the last quarter. Weiss Asset Management LP increased its stake in Avnet by 35.7% in the 3rd quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock worth $13,829,000 after acquiring an additional 66,973 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Avnet by 13.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company’s stock worth $13,213,000 after acquiring an additional 28,453 shares during the last quarter. Finally, Park Avenue Securities LLC increased its stake in Avnet by 22.6% in the 4th quarter. Park Avenue Securities LLC now owns 5,966 shares of the company’s stock worth $312,000 after acquiring an additional 1,101 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.

Avnet Trading Up 2.5 %

Shares of AVT stock opened at $47.79 on Monday. The stock has a market capitalization of $4.13 billion, a PE ratio of 13.54, a P/E/G ratio of 1.13 and a beta of 1.09. Avnet, Inc. has a 1-year low of $45.50 and a 1-year high of $59.24. The business has a 50-day moving average of $51.17 and a 200 day moving average of $52.79. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15.

Avnet (NASDAQ:AVT) last issued its earnings results on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. As a group, sell-side analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current year.

Avnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s dividend payout ratio (DPR) is currently 37.39%.

Analysts Set New Price Targets

AVT has been the topic of several recent research reports. Bank of America lowered Avnet from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial reduced their price objective on Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, January 30th.

Avnet 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.