Foster & Motley Inc. Has $6.21 Million Position in Avnet, Inc. (NASDAQ:AVT)

Foster & Motley Inc. boosted its holdings in Avnet, Inc. (NASDAQ:AVT) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,152 shares of the company’s stock after buying an additional 2,454 shares during the period. Foster & Motley Inc. owned approximately 0.14% of Avnet worth $6,207,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI raised its stake in shares of Avnet by 81.5% in the third quarter. National Bank of Canada FI now owns 50,469 shares of the company’s stock valued at $2,423,000 after buying an additional 22,669 shares during the period. CWM LLC raised its holdings in Avnet by 330.2% in the 3rd quarter. CWM LLC now owns 641 shares of the company’s stock worth $31,000 after purchasing an additional 492 shares during the period. Ronald Blue Trust Inc. increased its stake in Avnet by 123.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,810 shares of the company’s stock worth $92,000 after buying an additional 999 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Avnet by 44.3% during the third quarter. Exchange Traded Concepts LLC now owns 2,285 shares of the company’s stock valued at $110,000 after purchasing an additional 702 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in Avnet in the third quarter worth about $130,000. Institutional investors own 95.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Avnet Trading Up 1.5 %

Shares of Avnet stock traded up $0.72 on Monday, reaching $47.38. 478,928 shares of the company’s stock were exchanged, compared to its average volume of 567,489. Avnet, Inc. has a 52 week low of $39.64 and a 52 week high of $51.65. The firm’s 50-day moving average is $47.20 and its two-hundred day moving average is $47.33. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.05 and a current ratio of 2.34. The company has a market capitalization of $4.28 billion, a P/E ratio of 6.59, a price-to-earnings-growth ratio of 0.62 and a beta of 1.24.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. The business had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Avnet had a return on equity of 13.60% and a net margin of 2.62%. During the same quarter in the prior year, the business posted $2.00 earnings per share. Sell-side analysts predict that Avnet, Inc. will post 5.25 EPS for the current fiscal year.

Avnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.31 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.24 annualized dividend and a yield of 2.62%. Avnet’s 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.