Mutual of America Capital Management LLC Sells 4,127 Shares of Avnet, Inc. (NASDAQ:AVT)

Mutual of America Capital Management LLC cut its holdings in Avnet, Inc. (NASDAQ:AVT) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,621 shares of the company’s stock after selling 4,127 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Avnet worth $2,586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings 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 worth $42,000 after purchasing an additional 214 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Avnet in the third quarter worth about $51,000. nVerses Capital LLC purchased a new position in shares of Avnet during the 2nd quarter valued at about $77,000. GAMMA Investing LLC grew its stake in shares of Avnet by 68.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,527 shares of the company’s stock valued at $79,000 after acquiring an additional 620 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Avnet by 729.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,535 shares of the company’s stock worth $79,000 after acquiring an additional 1,350 shares in the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Trading Up 1.3 %

Avnet stock opened at $54.45 on Friday. Avnet, Inc. has a 1 year low of $43.62 and a 1 year high of $59.24. The firm’s 50 day moving average price is $54.05 and its 200-day moving average price is $53.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.25 and a quick ratio of 1.07. The stock has a market cap of $4.73 billion, a P/E ratio of 14.25, a PEG ratio of 1.00 and a beta of 1.16.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.86 by $0.06. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.43 billion. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 EPS. On average, equities analysts predict that Avnet, Inc. will post 4.09 earnings per share for the current fiscal year.

Avnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Wednesday, December 4th. Avnet’s payout ratio is 34.55%.

Analyst Ratings Changes

A number of research firms have weighed in on AVT. Wells Fargo & Company upped their price target on shares of Avnet from $40.00 to $45.00 and gave the stock an “underweight” rating in a research report on Friday, August 9th. Stifel Nicolaus upped their target price on shares of Avnet from $50.00 to $55.00 and gave the stock 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.

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.