Cozad Asset Management Inc. Sells 344 Shares of Avnet, Inc. (NASDAQ:AVT)

Cozad Asset Management Inc. cut its position in shares of Avnet, Inc. (NASDAQ:AVT) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,084 shares of the company’s stock after selling 344 shares during the quarter. Cozad Asset Management Inc.’s holdings in Avnet were worth $2,411,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Synergy Investment Management LLC purchased a new position in Avnet during the fourth quarter valued at $38,000. Principal Securities Inc. raised its stake in Avnet by 18.2% during the fourth 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. GAMMA Investing LLC raised its stake in Avnet by 18.6% during 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 last quarter. KBC Group NV raised its stake in Avnet by 55.7% during the fourth quarter. KBC Group NV now owns 3,356 shares of the company’s stock valued at $176,000 after buying an additional 1,200 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in Avnet during the third quarter valued at $209,000. 95.78% of the stock is currently owned by institutional investors.

Avnet Stock Up 2.5 %

AVT stock opened at $47.79 on Monday. Avnet, Inc. has a 1-year low of $45.50 and a 1-year high of $59.24. The business has a fifty day moving average price of $51.17 and a 200-day moving average price of $52.79. 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 stock has a market capitalization of $4.13 billion, a P/E ratio of 13.54, a P/E/G ratio of 1.13 and a beta of 1.09.

Avnet (NASDAQ:AVT) last issued 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%. Equities analysts forecast that Avnet, Inc. will post 3.41 earnings per share for the current fiscal year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, March 5th. Avnet’s payout ratio is currently 37.39%.

Analyst Ratings Changes

A number of brokerages have issued reports on AVT. Bank of America cut Avnet from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $58.00 to $48.00 in a research note on Thursday, January 30th. Truist Financial decreased their price target on Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, January 30th.

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.