Bank of Montreal Can Has $2.02 Million Holdings in Avnet, Inc. (NASDAQ:AVT)

Bank of Montreal Can increased its stake in Avnet, Inc. (NASDAQ:AVT) by 8.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,114 shares of the company’s stock after buying an additional 2,847 shares during the quarter. Bank of Montreal Can’s holdings in Avnet were worth $2,017,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of Avnet in the 2nd quarter valued at approximately $633,000. Kendall Capital Management boosted its holdings in shares of Avnet by 21.2% in the 2nd quarter. Kendall Capital Management now owns 118,843 shares of the company’s stock valued at $6,119,000 after buying an additional 20,810 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Avnet by 4.2% during the 2nd quarter. Hsbc Holdings PLC now owns 5,448 shares of the company’s stock valued at $280,000 after purchasing an additional 219 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Avnet by 16.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,670 shares of the company’s stock valued at $1,062,000 after purchasing an additional 2,851 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Avnet by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,385,547 shares of the company’s stock valued at $328,790,000 after purchasing an additional 39,558 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Down 0.1 %

AVT stock opened at $53.28 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.32 and a quick ratio of 1.10. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 8.62 and a beta of 1.15. The business’s fifty day moving average price is $52.83 and its two-hundred day moving average price is $51.72. Avnet, Inc. has a fifty-two week low of $42.67 and a fifty-two week high of $55.80.

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

Avnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 11th were given a $0.33 dividend. The ex-dividend date was Wednesday, September 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from Avnet’s previous quarterly dividend of $0.31. Avnet’s dividend payout ratio (DPR) is presently 21.36%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their price target on Avnet from $40.00 to $45.00 and gave the company an “underweight” rating in a report on Friday, August 9th. Stifel Nicolaus raised their price target on Avnet from $50.00 to $55.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Truist Financial raised their price target on Avnet from $48.00 to $52.00 and gave the company a “hold” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, Avnet presently has a consensus rating of “Hold” and a consensus price target of $48.50.

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.