WINTON GROUP Ltd Raises Stock Holdings in Avnet, Inc. $AVT

WINTON GROUP Ltd increased its stake in Avnet, Inc. (NASDAQ:AVT) by 127.0% during the 2nd quarter, Holdings Channel reports. The firm owned 22,700 shares of the company’s stock after purchasing an additional 12,699 shares during the quarter. WINTON GROUP Ltd’s holdings in Avnet were worth $2,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Avnet during the second quarter valued at approximately $25,000. State of Wyoming purchased a new position in Avnet in the 2nd quarter worth approximately $37,000. Summit Securities Group LLC bought a new position in shares of Avnet in the 4th quarter worth $28,000. BOKF NA increased its holdings in shares of Avnet by 1,116.7% in the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after buying an additional 536 shares during the last quarter. Finally, Elevation Wealth Partners LLC raised its position in shares of Avnet by 38.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 666 shares of the company’s stock valued at $59,000 after buying an additional 185 shares in the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Price Performance

Shares of Avnet stock opened at $99.63 on Friday. Avnet, Inc. has a 52-week low of $44.25 and a 52-week high of $100.00. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 0.28 and a beta of 1.10. The company has a fifty day moving average of $90.03 and a 200-day moving average of $80.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 1.78.

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

Avnet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Avnet’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, September 9th. Avnet’s payout ratio is 37.09%.

Insider Activity

In other news, SVP Michael Ryan Mccoy sold 32,052 shares of Avnet stock in a transaction dated 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 in the company, valued at approximately $6,985,001.40. The trade was a 29.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Philip R. Gallagher sold 51,900 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total value of $5,110,074.00. Following the completion of the sale, the chief executive officer directly owned 168,923 shares of the company’s stock, valued at approximately $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 currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of Avnet from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Wells Fargo & Company increased their target price on Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Zacks Research upgraded Avnet from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Weiss Ratings raised Avnet from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, August 14th. Finally, Truist Financial upped their price objective on Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Avnet has an average rating of “Moderate Buy” and an average target price of $93.25.

Avnet Profile

Avnet, Inc is a global technology distributor that helps manufacturers, engineers and other customers source electronic components and develop products. The company connects semiconductor and electronic-component suppliers with original equipment manufacturers, electronic manufacturing services providers and independent design firms.

Its offerings include semiconductors, embedded processors and computing products, memory, interconnect solutions, passive and electromechanical components, and related hardware and software.