Avnet, Inc. $AVT Shares Bought by Brucke Financial Inc.

Brucke Financial Inc. increased its stake in Avnet, Inc. (NASDAQ:AVT) by 7.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 6,597 shares of the company’s stock after buying an additional 443 shares during the period. Brucke Financial Inc.’s holdings in Avnet were worth $350,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of Avnet by 10.8% in the first quarter. American Century Companies Inc. now owns 3,880,865 shares of the company’s stock worth $186,631,000 after acquiring an additional 378,440 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Avnet by 5.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 2,581,227 shares of the company’s stock worth $124,131,000 after acquiring an additional 134,372 shares during the last quarter. Earnest Partners LLC boosted its position in shares of Avnet by 3.4% in the first quarter. Earnest Partners LLC now owns 1,520,075 shares of the company’s stock worth $73,100,000 after acquiring an additional 50,041 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Avnet by 7.9% in the first quarter. AQR Capital Management LLC now owns 1,334,817 shares of the company’s stock worth $63,043,000 after acquiring an additional 97,466 shares during the last quarter. Finally, Woodline Partners LP boosted its position in shares of Avnet by 44.9% in the first quarter. Woodline Partners LP now owns 1,055,356 shares of the company’s stock worth $50,752,000 after acquiring an additional 327,195 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Trading Down 2.8%

AVT opened at $49.52 on Friday. The firm has a market capitalization of $4.12 billion, a P/E ratio of 18.14, a P/E/G ratio of 0.38 and a beta of 1.06. The firm’s 50 day moving average is $52.93 and its 200-day moving average is $51.54. Avnet, Inc. has a 52-week low of $39.22 and a 52-week high of $59.24. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.51.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The company had revenue of $5.62 billion for the quarter, compared to analyst estimates of $5.36 billion. Avnet had a net margin of 1.08% and a return on equity of 6.07%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. Analysts expect that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Wednesday, September 17th were paid a dividend of $0.35 per share. This is an increase from Avnet’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Wednesday, September 17th. Avnet’s payout ratio is 51.28%.

Wall Street Analyst Weigh In

AVT has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Avnet in a research report on Wednesday. Bank of America lifted their price target on shares of Avnet from $48.00 to $50.00 and gave the company an “underperform” rating in a research report on Monday, August 11th. Finally, Truist Financial lifted their price target on shares of Avnet from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Avnet has an average rating of “Reduce” and an average target price of $49.00.

Avnet Company 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.