Jefferies Financial Group Inc. Takes Position in Avnet, Inc. $AVT

Jefferies Financial Group Inc. purchased a new position in Avnet, Inc. (NASDAQ:AVT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,293 shares of the company’s stock, valued at approximately $1,181,000.

Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in Avnet in the 2nd quarter valued at approximately $916,146,000. Pzena Investment Management LLC acquired a new stake in shares of Avnet during the 2nd quarter valued at $277,153,000. Norges Bank purchased a new position in shares of Avnet during the 4th quarter valued at $62,393,000. Bank of America Corp DE acquired a new position in shares of Avnet in the second quarter worth $91,844,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Avnet in the second quarter worth $74,897,000. 95.78% of the stock is currently owned by institutional investors and hedge funds.

Avnet Stock Performance

Avnet stock opened at $88.63 on Monday. Avnet, Inc. has a one year low of $44.25 and a one year high of $100.00. The company’s fifty day moving average price is $89.13 and its two-hundred day moving average price is $79.22. 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 capitalization of $7.27 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 0.27 and a beta of 1.09.

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

Avnet Increases Dividend

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

Analyst Ratings Changes

AVT has been the subject of a number of research reports. Zacks Research raised Avnet from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Wells Fargo & Company raised their price target on Avnet from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Monday, July 20th. Truist Financial lifted their price target on Avnet from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Bank of America raised Avnet from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $66.00 to $96.00 in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded Avnet from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

Insider Buying and Selling

In related news, 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 value of $2,919,937.20. Following the transaction, the senior vice president directly owned 76,674 shares in the company, valued at approximately $6,985,001.40. This trade represents a 29.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Philip R. Gallagher sold 51,900 shares of Avnet stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $98.46, for a total transaction of $5,110,074.00. Following the completion of the transaction, 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. The SEC filing for this sale provides additional information. Company insiders own 1.90% of the company’s stock.

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.