California State Teachers Retirement System Reduces Stake in Avnet (AVT)

California State Teachers Retirement System lowered its holdings in shares of Avnet (NYSE:AVT) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,644 shares of the technology company’s stock after selling 37,647 shares during the period. California State Teachers Retirement System owned 0.18% of Avnet worth $6,991,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund increased its holdings in shares of Avnet by 2,437.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,741,897 shares of the technology company’s stock valued at $48,000 after purchasing an additional 1,673,236 shares in the last quarter. FMR LLC grew its holdings in shares of Avnet by 17.4% during the third quarter. FMR LLC now owns 3,402,524 shares of the technology company’s stock worth $152,331,000 after buying an additional 505,237 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Avnet by 28.9% during the fourth quarter. Prudential Financial Inc. now owns 1,639,635 shares of the technology company’s stock worth $59,191,000 after buying an additional 367,914 shares in the last quarter. LSV Asset Management grew its holdings in shares of Avnet by 20.1% during the fourth quarter. LSV Asset Management now owns 2,194,268 shares of the technology company’s stock worth $79,213,000 after buying an additional 367,093 shares in the last quarter. Finally, Vanguard Group Inc grew its holdings in shares of Avnet by 2.8% during the third quarter. Vanguard Group Inc now owns 11,420,607 shares of the technology company’s stock worth $511,300,000 after buying an additional 315,288 shares in the last quarter. Hedge funds and other institutional investors own 96.44% of the company’s stock.

AVT stock traded up $0.10 during midday trading on Monday, reaching $46.96. 289,595 shares of the company’s stock traded hands, compared to its average volume of 770,532. Avnet has a fifty-two week low of $33.55 and a fifty-two week high of $49.40.

Avnet (NYSE:AVT) last posted its earnings results on Thursday, January 24th. The technology company reported $1.04 EPS for the quarter, hitting analysts’ consensus estimates of $1.04. The firm had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.07 billion. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were paid a $0.20 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.70%.

AVT has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Avnet from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, January 23rd. TheStreet raised shares of Avnet from a “c+” rating to a “b-” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $45.17.

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Avnet Company Profile

Avnet, Inc, together with its subsidiaries, distributes electronic components worldwide. The company operates through two segments, Electronic Components and Premier Farnell. The Electronic Components segment markets and sells semiconductors; electronic components, including interconnect, passive and electromechanical devices; and other integrated components from electronic component manufacturers.

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Institutional Ownership by Quarter for Avnet (NYSE:AVT)

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