Cibc World Market Inc. Invests $1.90 Million in Avnet, Inc. $AVT

Cibc World Market Inc. purchased a new stake in shares of Avnet, Inc. (NASDAQ:AVT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 21,336 shares of the company’s stock, valued at approximately $1,895,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AVT. BlackRock Inc. bought a new position in Avnet in the 2nd quarter valued at approximately $916,146,000. Dimensional Fund Advisors LP boosted its stake in Avnet by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,885,636 shares of the company’s stock valued at $362,655,000 after purchasing an additional 22,137 shares during the last quarter. Pzena Investment Management LLC bought a new stake in shares of Avnet in the 2nd quarter worth $277,153,000. AQR Capital Management LLC increased its holdings in shares of Avnet by 30.7% in the 4th quarter. AQR Capital Management LLC now owns 2,961,608 shares of the company’s stock worth $142,394,000 after purchasing an additional 695,929 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of Avnet by 7.6% in the fourth quarter. LSV Asset Management now owns 2,811,171 shares of the company’s stock worth $135,161,000 after purchasing an additional 197,400 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

AVT stock opened at $90.29 on Thursday. The company has a market cap of $7.41 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 0.27 and a beta of 1.09. Avnet, Inc. has a 1 year low of $44.25 and a 1 year high of $100.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. The stock’s fifty day moving average price is $89.19 and its 200-day moving average price is $78.88.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $1.80 by $0.48. The company had revenue of $8.30 billion during the quarter, compared to analyst estimates of $7.56 billion. Avnet had a return on equity of 9.57% and a net margin of 1.21%.Avnet’s revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. On average, equities analysts forecast that Avnet, Inc. will post 10.45 earnings per share for the current year.

Avnet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, September 9th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from Avnet’s previous quarterly dividend of $0.35. Avnet’s dividend payout ratio is presently 35.09%.

Insider Activity

In other news, SVP Michael Ryan Mccoy sold 32,052 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the completion of the sale, the senior vice president owned 76,674 shares of the company’s stock, valued at $6,985,001.40. This represents a 29.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Philip R. Gallagher sold 51,900 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the completion of the transaction, the chief executive officer owned 168,923 shares in the company, valued at $16,632,158.58. This trade represents a 23.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AVT has been the topic of a number of research analyst reports. Zacks Research raised Avnet from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Truist Financial boosted their target price on Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company upped their target price on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Wall Street Zen raised shares of Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $95.00 price target on shares of Avnet in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

About Avnet

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.