New York State Common Retirement Fund Sells 67,945 Shares of Avnet, Inc. (NASDAQ:AVT)

New York State Common Retirement Fund reduced its position in shares of Avnet, Inc. (NASDAQ:AVT) by 11.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 504,800 shares of the company’s stock after selling 67,945 shares during the quarter. New York State Common Retirement Fund’s holdings in Avnet were worth $26,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of AVT. Greenhaven Associates Inc. lifted its stake in shares of Avnet by 1.0% during the 4th quarter. Greenhaven Associates Inc. now owns 3,962,837 shares of the company’s stock worth $207,336,000 after buying an additional 38,185 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Avnet by 11,848.6% during the fourth quarter. Pacer Advisors Inc. now owns 2,840,663 shares of the company’s stock worth $148,623,000 after purchasing an additional 2,816,889 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Avnet by 204.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock worth $37,489,000 after purchasing an additional 463,660 shares during the period. FMR LLC lifted its holdings in Avnet by 24.7% during the 3rd quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after purchasing an additional 114,217 shares during the last quarter. Finally, Weiss Asset Management LP boosted 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 valued at $13,829,000 after purchasing an additional 66,973 shares during the period. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Trading Down 1.3 %

Shares of NASDAQ:AVT opened at $51.85 on Friday. The business’s 50 day simple moving average is $52.20 and its 200 day simple moving average is $53.25. Avnet, Inc. has a 1 year low of $45.45 and a 1 year high of $59.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The company has a market capitalization of $4.49 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.15 and a beta of 1.13.

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

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.55%. Avnet’s dividend payout ratio (DPR) is 37.39%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AVT shares. Bank of America cut Avnet from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th. Truist Financial lowered their price target on shares of Avnet from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Thursday, January 30th.

Avnet Company 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.