Avnet, Inc. (NASDAQ:AVT) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its stake in Avnet, Inc. (NASDAQ:AVT) by 71.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,116 shares of the company’s stock after selling 32,349 shares during the period. Jane Street Group LLC’s holdings in Avnet were worth $712,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC lifted its position in Avnet by 430.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 24,208 shares of the company’s stock worth $1,289,000 after acquiring an additional 19,646 shares in the last quarter. Weiss Asset Management LP lifted its position in shares of Avnet by 35.7% during the third quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock worth $13,829,000 after purchasing an additional 66,973 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Avnet by 20.2% during the third quarter. Quantinno Capital Management LP now owns 96,218 shares of the company’s stock worth $5,226,000 after purchasing an additional 16,154 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Avnet by 204.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock valued at $37,489,000 after purchasing an additional 463,660 shares during the period. Finally, Hilltop Holdings Inc. grew its holdings in Avnet by 14.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,688 shares of the company’s stock valued at $255,000 after purchasing an additional 607 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Performance

Shares of AVT stock opened at $52.08 on Friday. 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 company’s fifty day moving average price is $54.05 and its two-hundred day moving average price is $53.32. The firm has a market capitalization of $4.53 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.01 and a beta of 1.14. Avnet, Inc. has a 12 month low of $43.62 and a 12 month high of $59.24.

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

Avnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were issued a $0.33 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.53%. Avnet’s dividend payout ratio (DPR) is 34.55%.

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.