New York State Common Retirement Fund Has $26.41 Million Position in Avnet, Inc. (NASDAQ:AVT)

New York State Common Retirement Fund lessened its holdings in Avnet, Inc. (NASDAQ:AVT) by 11.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 504,800 shares of the company’s stock after selling 67,945 shares during the period. New York State Common Retirement Fund owned approximately 0.58% of Avnet worth $26,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. boosted its position in Avnet by 18.2% in the 4th quarter. Principal Securities Inc. now owns 1,373 shares of the company’s stock valued at $72,000 after buying an additional 211 shares during the last quarter. Coldstream Capital Management Inc. grew its position in shares of Avnet by 5.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock worth $246,000 after buying an additional 222 shares during the period. Highland Capital Management LLC raised its stake in shares of Avnet by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 4,234 shares of the company’s stock worth $222,000 after buying an additional 261 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Avnet by 18.6% in the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock valued at $114,000 after buying an additional 341 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Avnet by 0.9% in the third quarter. State of Alaska Department of Revenue now owns 53,232 shares of the company’s stock valued at $2,890,000 after acquiring an additional 455 shares during the last quarter. Institutional investors own 95.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Bank of America downgraded Avnet from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $58.00 to $48.00 in a report on Thursday, January 30th. Truist Financial decreased their price objective on shares of Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a report on Thursday, January 30th.

Avnet Trading Down 1.3 %

NASDAQ AVT opened at $51.85 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The firm has a market cap of $4.49 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.15 and a beta of 1.13. The stock’s 50-day moving average is $52.20 and its 200-day moving average is $53.25. Avnet, Inc. has a one year low of $45.45 and a one year high of $59.24.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. Sell-side analysts anticipate that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, March 5th. Avnet’s payout ratio is 37.39%.

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.