Avery Dennison Co. (NYSE:AVY) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its holdings in Avery Dennison Co. (NYSE:AVY) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,961 shares of the industrial products company’s stock after selling 1,400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Avery Dennison were worth $4,299,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVY. Apollon Wealth Management LLC raised its stake in Avery Dennison by 7.2% in the third quarter. Apollon Wealth Management LLC now owns 1,233 shares of the industrial products company’s stock valued at $272,000 after buying an additional 83 shares in the last quarter. Huntington National Bank raised its stake in Avery Dennison by 3.1% in the third quarter. Huntington National Bank now owns 3,331 shares of the industrial products company’s stock valued at $735,000 after buying an additional 99 shares in the last quarter. Zions Bancorporation N.A. raised its stake in Avery Dennison by 76.2% in the third quarter. Zions Bancorporation N.A. now owns 3,283 shares of the industrial products company’s stock valued at $725,000 after buying an additional 1,420 shares in the last quarter. Metis Global Partners LLC raised its stake in Avery Dennison by 21.6% in the third quarter. Metis Global Partners LLC now owns 7,311 shares of the industrial products company’s stock valued at $1,614,000 after buying an additional 1,297 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new stake in Avery Dennison in the third quarter valued at $207,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AVY shares. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research report on Monday, February 3rd. UBS Group cut their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Truist Financial reiterated a “buy” rating and set a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Citigroup cut their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, Barclays cut their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Stock Performance

NYSE AVY opened at $178.91 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The business’s 50 day moving average is $185.49 and its two-hundred day moving average is $199.52. Avery Dennison Co. has a 12-month low of $174.91 and a 12-month high of $233.48. The stock has a market capitalization of $14.13 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the sale, the chairman now owns 316,300 shares in the company, valued at $58,891,897. This represents a 2.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Avery Dennison Company 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.