Avnet said on May 22, 2023 that its board of directors declared a regular quarterly dividend of $0.29 per share ($1.16 annualized). Previously, the company paid $0.29 per share.
Shares must be purchased before the ex-div date of June 6, 2023 to qualify for the dividend. Shareholders of record as of June 7, 2023 will receive the payment on June 21, 2023.
At the current share price of $42.71 / share, the stock's dividend yield is 2.72%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.35%, the lowest has been 1.56%, and the highest has been 3.65%. The standard deviation of yields is 0.46 (n=237).
The current dividend yield is 0.80 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.38%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 808 funds or institutions reporting positions in Avnet. This is a decrease of 16 owner(s) or 1.94% in the last quarter. Average portfolio weight of all funds dedicated to AVT is 0.20%, a decrease of 7.65%. Total shares owned by institutions decreased in the last three months by 1.84% to 98,389K shares. 
The put/call ratio of AVT is 5.69, indicating a bearish outlook.
Analyst Price Forecast Suggests 12.64% Upside
As of May 11, 2023, the average one-year price target for Avnet is 48.11. The forecasts range from a low of 37.37 to a high of $59.85. The average price target represents an increase of 12.64% from its latest reported closing price of 42.71.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Avnet is 25,582MM, a decrease of 2.93%. The projected annual non-GAAP EPS is 7.14.
What are Other Shareholders Doing?
Pzena Investment Management holds 9,150K shares representing 10.01% ownership of the company. In it's prior filing, the firm reported owning 9,283K shares, representing a decrease of 1.45%. The firm increased its portfolio allocation in AVT by 4.08% over the last quarter.
Greenhaven Associates holds 3,158K shares representing 3.45% ownership of the company. In it's prior filing, the firm reported owning 1,340K shares, representing an increase of 57.56%. The firm increased its portfolio allocation in AVT by 123.89% over the last quarter.
Lsv Asset Management holds 2,963K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 2,999K shares, representing a decrease of 1.23%. The firm increased its portfolio allocation in AVT by 9.21% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 2,826K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 2,765K shares, representing an increase of 2.15%. The firm increased its portfolio allocation in AVT by 2.68% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,785K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 2,835K shares, representing a decrease of 1.79%. The firm increased its portfolio allocation in AVT by 4.44% over the last quarter.
Avnet Background Information
(This description is provided by the company.)
As a leading global technology distributor and solutions provider, Avnet has served customers’ evolving needs for an entire century. It supports customers at each stage of a product’s lifecycle, from idea to design and from prototype to production. Its unique position at the center of the technology value chain enables it to accelerate the design and supplies stages of product development so customers can realize revenue faster. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
