Kendall Capital Management Has $6.97 Million Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

Kendall Capital Management increased its holdings in Avnet, Inc. (NASDAQ:AVT) by 4.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 133,205 shares of the company’s stock after buying an additional 6,200 shares during the period. Avnet accounts for approximately 2.0% of Kendall Capital Management’s portfolio, making the stock its 6th largest holding. Kendall Capital Management’s holdings in Avnet were worth $6,969,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC raised its position in shares of Avnet by 24.7% in the third quarter. FMR LLC now owns 576,794 shares of the company’s stock worth $31,326,000 after buying an additional 114,217 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Avnet by 227.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 214,007 shares of the company’s stock worth $11,197,000 after buying an additional 148,588 shares in the last quarter. Weiss Asset Management LP raised its position in shares of Avnet by 35.7% in the third quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock worth $13,829,000 after buying an additional 66,973 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Avnet by 13.2% in the third quarter. JPMorgan Chase & Co. now owns 243,295 shares of the company’s stock worth $13,213,000 after buying an additional 28,453 shares in the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Avnet by 22.6% in the fourth quarter. Park Avenue Securities LLC now owns 5,966 shares of the company’s stock worth $312,000 after buying an additional 1,101 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Avnet Trading Up 2.6 %

NASDAQ AVT opened at $50.44 on Friday. The stock’s 50-day simple moving average is $51.60 and its two-hundred day simple moving average is $53.05. Avnet, Inc. has a twelve month low of $45.50 and a twelve month high of $59.24. The company has a quick ratio of 1.15, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT) last released 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 return on equity of 7.49% and a net margin of 1.41%. Research analysts forecast that Avnet, Inc. will post 3.41 EPS for the current fiscal year.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.62%. Avnet’s dividend payout ratio is currently 37.39%.

About Avnet

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.