Alaska Permanent Fund Corp Increases Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Alaska Permanent Fund Corp grew its position in Avnet, Inc. (NASDAQ:AVT) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,578 shares of the company’s stock after buying an additional 478 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Avnet were worth $2,549,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Avnet by 1.3% in the third quarter. Vanguard Group Inc. now owns 10,519,704 shares of the company’s stock valued at $506,945,000 after buying an additional 135,171 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Avnet by 0.5% during the third quarter. Pzena Investment Management LLC now owns 8,730,260 shares of the company’s stock valued at $420,711,000 after acquiring an additional 42,234 shares during the last quarter. Greenhaven Associates Inc. boosted its stake in shares of Avnet by 1.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,834,799 shares of the company’s stock valued at $193,274,000 after acquiring an additional 62,710 shares during the last quarter. LSV Asset Management boosted its stake in shares of Avnet by 5.3% during the third quarter. LSV Asset Management now owns 3,077,468 shares of the company’s stock valued at $148,303,000 after acquiring an additional 154,700 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Avnet by 51.2% during the third quarter. Invesco Ltd. now owns 1,521,195 shares of the company’s stock valued at $73,306,000 after acquiring an additional 515,095 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group decreased their price objective on Avnet from $48.00 to $42.00 and set a “sell” rating on the stock in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.50.

Avnet Trading Down 0.4 %

NASDAQ:AVT traded down $0.19 during mid-day trading on Thursday, reaching $49.05. The company’s stock had a trading volume of 38,118 shares, compared to its average volume of 563,902. The company’s fifty day simple moving average is $47.41 and its two-hundred day simple moving average is $47.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 1.05. Avnet, Inc. has a twelve month low of $39.64 and a twelve month high of $51.65. The stock has a market cap of $4.43 billion, a P/E ratio of 6.80, a P/E/G ratio of 0.64 and a beta of 1.24.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. Avnet had a return on equity of 13.60% and a net margin of 2.62%. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same period last year, the company earned $2.00 EPS. On average, equities analysts predict that Avnet, Inc. will post 5.25 EPS for the current year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Tuesday, March 5th. Avnet’s dividend payout ratio is currently 17.13%.

Avnet 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.