River Road Asset Management LLC Sells 7,225 Shares of Avnet, Inc. $AVT

River Road Asset Management LLC lessened its position in shares of Avnet, Inc. (NASDAQ:AVT) by 4.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 152,216 shares of the company’s stock after selling 7,225 shares during the quarter. River Road Asset Management LLC’s holdings in Avnet were worth $7,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kera Capital Partners Inc. bought a new stake in Avnet in the 4th quarter valued at about $244,000. Mackenzie Financial Corp lifted its holdings in Avnet by 24.7% during the fourth quarter. Mackenzie Financial Corp now owns 33,651 shares of the company’s stock valued at $1,644,000 after purchasing an additional 6,656 shares during the last quarter. XTX Topco Ltd lifted its holdings in Avnet by 69.5% during the fourth quarter. XTX Topco Ltd now owns 9,219 shares of the company’s stock valued at $443,000 after purchasing an additional 3,779 shares during the last quarter. Voloridge Investment Management LLC boosted its position in Avnet by 4.7% during the fourth quarter. Voloridge Investment Management LLC now owns 303,501 shares of the company’s stock worth $14,592,000 after purchasing an additional 13,699 shares during the period. Finally, Verdad Advisers LP bought a new position in Avnet during the fourth quarter worth about $240,000. Institutional investors own 95.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on AVT shares. Bank of America raised shares of Avnet from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $66.00 to $96.00 in a research report on Wednesday, May 13th. Wells Fargo & Company raised their price objective on shares of Avnet from $60.00 to $70.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. Truist Financial lifted their price objective on shares of Avnet to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Avnet in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

Insider Buying and Selling at Avnet

In related news, CEO Philip R. Gallagher sold 23,920 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $82.92, for a total value of $1,983,446.40. Following the sale, the chief executive officer directly owned 145,003 shares of the company’s stock, valued at $12,023,648.76. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Avnet Price Performance

NASDAQ:AVT opened at $91.47 on Friday. Avnet, Inc. has a 52-week low of $44.25 and a 52-week high of $95.26. The stock has a fifty day moving average of $82.94 and a 200 day moving average of $66.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.05 and a current ratio of 2.01. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 0.41 and a beta of 1.08.

Avnet (NASDAQ:AVT) last announced its earnings results on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.15. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The business had revenue of $7.12 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same period in the prior year, the company earned $0.84 EPS. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. On average, research analysts expect that Avnet, Inc. will post 5.12 EPS for the current fiscal year.

Avnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. Avnet’s payout ratio is presently 54.47%.

Avnet Profile

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.