Fox Run Management L.L.C. Raises Stake in Avnet, Inc. $AVT

Fox Run Management L.L.C. grew its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 77.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,257 shares of the company’s stock after purchasing an additional 7,521 shares during the quarter. Fox Run Management L.L.C.’s holdings in Avnet were worth $830,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its stake in shares of Avnet by 132.7% during the third quarter. Hantz Financial Services Inc. now owns 526 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares during the period. BOKF NA boosted its stake in shares of Avnet by 1,116.7% during the third quarter. BOKF NA now owns 584 shares of the company’s stock valued at $31,000 after purchasing an additional 536 shares during the period. MAI Capital Management boosted its stake in shares of Avnet by 53.7% during the third quarter. MAI Capital Management now owns 673 shares of the company’s stock valued at $35,000 after purchasing an additional 235 shares during the period. Allworth Financial LP boosted its stake in shares of Avnet by 199.1% during the third quarter. Allworth Financial LP now owns 700 shares of the company’s stock valued at $37,000 after purchasing an additional 466 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Avnet by 53.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 737 shares of the company’s stock valued at $35,000 after purchasing an additional 258 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Avnet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Bank of America raised shares of Avnet from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Weiss Ratings lowered shares of Avnet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Raymond James Financial restated a “strong-buy” rating and issued a $95.00 price objective on shares of Avnet in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded Avnet from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Avnet has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Insider Buying and Selling at Avnet

In related news, CEO Philip R. Gallagher sold 23,920 shares of Avnet stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $82.92, for a total value of $1,983,446.40. Following the completion of the sale, the chief executive officer directly owned 145,003 shares in the company, valued at $12,023,648.76. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Avnet Stock Performance

AVT stock opened at $85.39 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.01 and a quick ratio of 1.05. The business has a 50-day moving average price of $79.03 and a 200 day moving average price of $64.05. The company has a market capitalization of $7.00 billion, a P/E ratio of 33.23, a PEG ratio of 0.39 and a beta of 1.08. Avnet, Inc. has a 1-year low of $44.25 and a 1-year high of $95.26.

Avnet (NASDAQ:AVT) last released its quarterly earnings data on Wednesday, April 29th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.15. The firm had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $6.45 billion. Avnet had a return on equity of 7.07% and a net margin of 0.86%.The firm’s quarterly revenue was up 34.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. Avnet has set its Q4 2026 guidance at 1.700-1.800 EPS. As a group, equities research analysts forecast that Avnet, Inc. will post 5.12 EPS for the current fiscal year.

Avnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, June 3rd. Avnet’s payout ratio is presently 54.47%.

Avnet Company Profile

Avnet, Inc (NASDAQ: AVT) is a global technology distributor and solutions provider specializing in the sourcing, design, and supply chain management of electronic components and embedded systems. The company offers a broad portfolio of semiconductors, interconnect, passive and electromechanical components, as well as embedded hardware and software, cloud solutions, and Internet of Things (IoT) services. Avnet’s offerings aim to support customers through every stage of the product lifecycle, from initial prototype and design to production and end-of-life management.

Founded in 1921 by Charles Avnet, the company has evolved from a regional radio parts supplier into a multinational enterprise.