Oregon Public Employees Retirement Fund reduced its stake in shares of Avnet, Inc. (NYSE:AVT) by 0.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 75,616 shares of the technology company’s stock after selling 311 shares during the period. Oregon Public Employees Retirement Fund owned approximately 0.06% of Avnet worth $2,940,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Alpha Windward LLC boosted its position in Avnet by 0.5% in the first quarter. Alpha Windward LLC now owns 11,189 shares of the technology company’s stock valued at $512,000 after buying an additional 60 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Avnet by 0.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,940 shares of the technology company’s stock valued at $867,000 after buying an additional 100 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in Avnet by 1.8% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,457 shares of the technology company’s stock valued at $432,000 after buying an additional 164 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in Avnet by 1.0% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 22,213 shares of the technology company’s stock valued at $1,016,000 after buying an additional 217 shares in the last quarter. Finally, World Asset Management Inc boosted its position in Avnet by 2.2% in the first quarter. World Asset Management Inc now owns 10,593 shares of the technology company’s stock valued at $485,000 after buying an additional 228 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

Avnet, Inc. (NYSE:AVT) traded down 2.34% during mid-day trading on Friday, hitting $35.95. 1,233,608 shares of the stock traded hands. Avnet, Inc. has a one year low of $35.95 and a one year high of $51.50. The company has a 50 day moving average price of $38.53 and a 200-day moving average price of $41.29. The stock has a market capitalization of $4.42 billion, a PE ratio of 8.80 and a beta of 1.04.

Avnet (NYSE:AVT) last posted its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.07. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.48 billion. Avnet had a return on equity of 8.87% and a net margin of 3.00%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. Equities analysts anticipate that Avnet, Inc. will post $3.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.00%. Avnet’s dividend payout ratio is currently 17.69%.

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A number of equities research analysts recently issued reports on AVT shares. SunTrust Banks, Inc. cut shares of Avnet from a “buy” rating to a “hold” rating and decreased their price target for the company from $53.00 to $39.00 in a report on Friday, April 28th. Longbow Research lowered shares of Avnet from a “buy” rating to a “neutral” rating in a research report on Friday, April 28th. Citigroup Inc. reaffirmed a “sell” rating and set a $31.00 price objective on shares of Avnet in a research report on Friday, April 28th. Deutsche Bank AG reaffirmed a “hold” rating and set a $40.00 price objective (down previously from $47.00) on shares of Avnet in a research report on Saturday, April 29th. Finally, Zacks Investment Research lowered shares of Avnet from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 2nd. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $42.11.

In other news, Director James A. Lawrence purchased 408,451 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were acquired at an average price of $36.99 per share, with a total value of $15,108,602.49. Following the transaction, the director now owns 416,549 shares of the company’s stock, valued at $15,408,147.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director J Veronica Biggins sold 10,600 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $37.10, for a total value of $393,260.00. Following the transaction, the director now directly owns 12,191 shares in the company, valued at approximately $452,286.10. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by corporate insiders.

Avnet Company Profile

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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