Avery Dennison Co. (NYSE:AVY) Shares Acquired by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC grew its position in shares of Avery Dennison Co. (NYSE:AVY) by 16.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,881 shares of the industrial products company’s stock after acquiring an additional 266 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Avery Dennison were worth $415,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AVY. Innealta Capital LLC purchased a new stake in Avery Dennison during the second quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison in the second quarter valued at about $42,000. 1620 Investment Advisors Inc. acquired a new position in shares of Avery Dennison during the second quarter worth about $51,000. Palisade Asset Management LLC purchased a new stake in shares of Avery Dennison in the first quarter worth about $64,000. Finally, Versant Capital Management Inc grew its stake in shares of Avery Dennison by 936.7% in the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after buying an additional 281 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Price Performance

AVY stock traded up $1.76 during trading on Friday, hitting $216.83. 3,729 shares of the stock traded hands, compared to its average volume of 457,705. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The stock has a market cap of $17.46 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 1.78 and a beta of 0.88. Avery Dennison Co. has a one year low of $165.21 and a one year high of $233.48. The company has a 50 day simple moving average of $215.33 and a 200 day simple moving average of $218.96.

Avery Dennison (NYSE:AVY) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.92 EPS. Equities analysts expect that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 45.19%.

Analysts Set New Price Targets

AVY has been the subject of a number of research reports. Stifel Nicolaus initiated coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target for the company. Truist Financial boosted their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Barclays assumed coverage on shares of Avery Dennison in a research report on Monday. They issued an “overweight” rating and a $250.00 price target on the stock. Finally, Citigroup dropped their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and an average target price of $242.96.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock worth $12,545,087 over the last quarter. 1.10% of the stock is currently owned by insiders.

Avery Dennison Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.