Kapitalo Investimentos Ltda Invests $261,000 in Avnet, Inc. (NASDAQ:AVT)

Kapitalo Investimentos Ltda bought a new stake in Avnet, Inc. (NASDAQ:AVT) during the 3rd quarter, HoldingsChannel reports. The firm bought 4,797 shares of the company’s stock, valued at approximately $261,000.

Other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp increased its stake in shares of Avnet by 35.2% in the 2nd quarter. Fifth Third Bancorp now owns 822 shares of the company’s stock valued at $42,000 after acquiring an additional 214 shares in the last quarter. Hsbc Holdings PLC increased its stake in Avnet by 4.2% in the second quarter. Hsbc Holdings PLC now owns 5,448 shares of the company’s stock valued at $280,000 after purchasing an additional 219 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Avnet by 3.3% during the second quarter. Verdence Capital Advisors LLC now owns 7,016 shares of the company’s stock valued at $361,000 after purchasing an additional 223 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Avnet by 3.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,850 shares of the company’s stock worth $340,000 after purchasing an additional 243 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of Avnet by 1.9% in the 1st quarter. US Bancorp DE now owns 13,124 shares of the company’s stock valued at $651,000 after buying an additional 243 shares during the period. Institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

Shares of Avnet stock opened at $55.34 on Thursday. Avnet, Inc. has a 52 week low of $42.67 and a 52 week high of $55.80. The company has a quick ratio of 1.10, a current ratio of 2.32 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average price of $53.37 and a 200-day moving average price of $52.17. The company has a market cap of $5.00 billion, a PE ratio of 8.95 and a beta of 1.15.

Avnet (NASDAQ:AVT) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.27. Avnet had a return on equity of 9.92% and a net margin of 2.10%. The business had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the business earned $2.06 EPS. The business’s revenue was down 15.1% on a year-over-year basis. Equities analysts anticipate that Avnet, Inc. will post 4.57 earnings per share for the current fiscal year.

Avnet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were paid a $0.33 dividend. This is a positive change from Avnet’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $1.32 annualized dividend and a yield of 2.39%. Avnet’s dividend payout ratio (DPR) is 21.36%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Avnet from $40.00 to $45.00 and gave the stock an “underweight” rating in a research note on Friday, August 9th. Stifel Nicolaus increased their target price on Avnet from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Truist Financial boosted their price target on shares of Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, August 9th.

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.