Fox Run Management L.L.C. Invests $509,000 in Avnet, Inc. $AVT

Fox Run Management L.L.C. purchased a new position in shares of Avnet, Inc. (NASDAQ:AVT) during the third quarter, Holdings Channel reports. The firm purchased 9,736 shares of the company’s stock, valued at approximately $509,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Avnet by 3.0% in the first quarter. Royal Bank of Canada now owns 71,697 shares of the company’s stock valued at $3,447,000 after acquiring an additional 2,101 shares during the period. Goldman Sachs Group Inc. grew its position in Avnet by 16.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 231,814 shares of the company’s stock worth $11,148,000 after purchasing an additional 31,919 shares during the last quarter. United Services Automobile Association acquired a new position in Avnet in the first quarter valued at $267,000. Empowered Funds LLC raised its holdings in shares of Avnet by 9.3% in the first quarter. Empowered Funds LLC now owns 8,142 shares of the company’s stock valued at $392,000 after buying an additional 696 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Avnet by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,757 shares of the company’s stock worth $17,012,000 after buying an additional 16,443 shares during the period. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Stock Down 0.5%

Avnet stock opened at $65.84 on Friday. The stock’s 50 day moving average price is $56.89 and its 200 day moving average price is $52.91. Avnet, Inc. has a 1-year low of $39.22 and a 1-year high of $68.29. The company has a market cap of $5.39 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 0.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.07.

Avnet (NASDAQ:AVT) last released its earnings results on Wednesday, January 28th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. The company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $6.03 billion. Avnet had a return on equity of 6.08% and a net margin of 0.90%.Avnet’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 earnings per share. Avnet has set its Q3 2026 guidance at 1.200-1.300 EPS. On average, sell-side analysts predict that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.40 dividend on an annualized basis and a yield of 2.1%. Avnet’s payout ratio is currently 57.38%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVT. Weiss Ratings cut Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, February 17th. Wells Fargo & Company boosted their target price on Avnet from $43.00 to $48.00 and gave the company an “underweight” rating in a report on Thursday, January 29th. Truist Financial increased their price target on Avnet from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, January 29th. Finally, Wall Street Zen raised shares of Avnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $54.33.

Avnet Company 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.