Lakewood Capital Management LP Acquires Shares of 72,000 Avnet, Inc. $AVT

Lakewood Capital Management LP acquired a new position in shares of Avnet, Inc. (NASDAQ:AVT) during the 2nd quarter, Holdings Channel reports. The firm acquired 72,000 shares of the company’s stock, valued at approximately $6,395,000.

A number of other institutional investors also recently made changes to their positions in AVT. Jefferies Financial Group Inc. acquired a new position in Avnet during the 4th quarter worth $602,000. Jupiter Asset Management Ltd. bought a new stake in shares of Avnet in the 4th quarter worth about $4,865,000. Foster & Motley Inc. acquired a new stake in shares of Avnet in the 2nd quarter valued at about $11,263,000. Edgestream Partners L.P. bought a new position in shares of Avnet during the first quarter worth about $2,400,000. Finally, GSA Capital Partners LLP lifted its position in shares of Avnet by 255.2% during the fourth quarter. GSA Capital Partners LLP now owns 41,830 shares of the company’s stock worth $2,011,000 after purchasing an additional 30,052 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Price Performance

AVT opened at $86.26 on Tuesday. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 0.27 and a beta of 1.09. Avnet, Inc. has a fifty-two week low of $44.25 and a fifty-two week high of $100.00. The company’s 50-day moving average price is $89.24 and its 200 day moving average price is $78.53. The company has a quick ratio of 0.97, a current ratio of 1.78 and a debt-to-equity ratio of 0.49.

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

Avnet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th will be issued a $0.37 dividend. This is a positive change from Avnet’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.48 annualized dividend and a dividend yield of 1.7%. Avnet’s dividend payout ratio (DPR) is 35.09%.

Insider Buying and Selling

In related news, CEO Philip R. Gallagher sold 51,900 shares of the business’s 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. The trade was a 23.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total value of $2,919,937.20. Following the transaction, the senior vice president owned 76,674 shares of the company’s stock, valued at approximately $6,985,001.40. The trade was a 29.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AVT. Truist Financial boosted their price objective on Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 target price on shares of Avnet in a report on Thursday, April 30th. Zacks Research upgraded Avnet from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Bank of America upgraded 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 report on Wednesday, May 13th. Finally, Wall Street Zen raised Avnet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Avnet presently 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.