WINTON GROUP Ltd Buys 12,699 Shares of Avnet, Inc. $AVT

WINTON GROUP Ltd boosted its position in Avnet, Inc. (NASDAQ:AVT) by 127.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,700 shares of the company’s stock after purchasing an additional 12,699 shares during the period. WINTON GROUP Ltd’s holdings in Avnet were worth $2,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AVT. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Avnet in the second quarter valued at $25,000. Summit Securities Group LLC bought a new position in shares of Avnet during the 4th quarter worth $28,000. BOKF NA grew its stake in shares of Avnet by 1,116.7% during the 3rd quarter. BOKF NA now owns 584 shares of the company’s stock worth $31,000 after acquiring an additional 536 shares during the period. State of Wyoming purchased a new stake in Avnet in the 2nd quarter worth about $37,000. Finally, Hantz Financial Services Inc. increased its holdings in Avnet by 62.0% in the 4th quarter. Hantz Financial Services Inc. now owns 852 shares of the company’s stock worth $41,000 after acquiring an additional 326 shares during the last quarter. 95.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Avnet news, CEO Philip R. Gallagher sold 51,900 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $98.46, for a total value of $5,110,074.00. Following the sale, the chief executive officer directly owned 168,923 shares in the company, valued at $16,632,158.58. This represents a 23.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael Ryan Mccoy sold 32,052 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following the completion of the transaction, the senior vice president directly owned 76,674 shares of the company’s stock, valued at approximately $6,985,001.40. The trade was a 29.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.90% of the company’s stock.

Avnet Stock Performance

Shares of AVT opened at $99.63 on Friday. Avnet, Inc. has a 52-week low of $44.25 and a 52-week high of $100.00. The stock’s 50-day simple moving average is $90.03 and its 200 day simple moving average is $80.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 1.78. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 0.28 and a beta of 1.10.

Avnet (NASDAQ:AVT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.48. Avnet had a return on equity of 9.57% and a net margin of 1.21%.The firm had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue was up 47.7% on a year-over-year basis. Avnet has set its Q1 2027 guidance at 2.800-2.900 EPS. Research analysts forecast that Avnet, Inc. will post 10.45 EPS for the current fiscal year.

Avnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th will be issued a dividend of $0.37 per share. This is a boost from Avnet’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.48 dividend on an annualized basis and a yield of 1.5%. Avnet’s payout ratio is currently 37.09%.

Wall Street Analysts Forecast Growth

AVT has been the topic of several recent research reports. Weiss Ratings raised shares of Avnet from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 14th. Truist Financial lifted their target price on shares of Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Avnet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Wells Fargo & Company upped their price target on shares of Avnet from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Monday, July 20th. Finally, Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

About Avnet

Avnet, Inc is a global technology distributor that helps manufacturers, engineers and other customers source electronic components and develop products. The company connects semiconductor and electronic-component suppliers with original equipment manufacturers, electronic manufacturing services providers and independent design firms.

Its offerings include semiconductors, embedded processors and computing products, memory, interconnect solutions, passive and electromechanical components, and related hardware and software.