Man Group plc Invests $1.66 Million in Avnet, Inc. $AVT

Man Group plc acquired a new position in shares of Avnet, Inc. (NASDAQ:AVT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,740 shares of the company’s stock, valued at approximately $1,664,000.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVT. Zacks Research upgraded shares of Avnet from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Truist Financial upped their price target on shares of Avnet from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $66.00 to $96.00 in a report on Wednesday, May 13th. Wall Street Zen upgraded Avnet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings raised Avnet from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

Avnet Stock Down 0.2%

NASDAQ:AVT opened at $89.39 on Wednesday. Avnet, Inc. has a one year low of $44.25 and a one year high of $100.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.78 and a quick ratio of 0.97. The company has a market cap of $7.34 billion, a PE ratio of 22.40, a P/E/G ratio of 0.27 and a beta of 1.10. The firm’s 50 day simple moving average is $89.07 and its 200 day simple moving average is $79.55.

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

Avnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.48 annualized dividend and a yield of 1.7%. This is an increase from Avnet’s previous quarterly dividend of $0.35. Avnet’s dividend payout ratio is 35.09%.

Insider Buying and Selling at Avnet

In other Avnet news, SVP Michael Ryan Mccoy sold 32,052 shares of Avnet stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $91.10, for a total transaction of $2,919,937.20. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Philip R. Gallagher sold 51,900 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 168,923 shares in the company, valued at $16,632,158.58. This trade represents a 23.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by company insiders.

About Avnet

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.