Avery Dennison Co. (NYSE:AVY) Shares Purchased by Advisory Services Network LLC

Advisory Services Network LLC grew its position in Avery Dennison Co. (NYSE:AVY) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,731 shares of the industrial products company’s stock after buying an additional 300 shares during the quarter. Advisory Services Network LLC’s holdings in Avery Dennison were worth $511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Greenleaf Trust raised its position in Avery Dennison by 4.4% during the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 57 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after buying an additional 58 shares in the last quarter. HBK Sorce Advisory LLC increased its position in Avery Dennison by 0.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock worth $2,220,000 after buying an additional 58 shares in the last quarter. RMR Wealth Builders lifted its position in shares of Avery Dennison by 5.7% in the fourth quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 59 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its stake in shares of Avery Dennison by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company’s stock valued at $2,055,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.84% of the stock is currently owned by company insiders.

Avery Dennison Stock Down 1.6 %

Shares of Avery Dennison stock opened at $169.57 on Wednesday. The company has a fifty day moving average price of $178.15 and a 200 day moving average price of $192.11. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48. The stock has a market cap of $13.39 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

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

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.08%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Analyst Ratings Changes

AVY has been the topic of several analyst reports. Barclays decreased their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.87.

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.