Russell Investments Group Ltd. trimmed its position in shares of Avery Dennison Co. (NYSE:AVY – Free Report) by 22.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,837 shares of the industrial products company’s stock after selling 18,716 shares during the period. Russell Investments Group Ltd. owned 0.08% of Avery Dennison worth $14,702,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in AVY. Cerity Partners LLC increased its stake in shares of Avery Dennison by 4,159.9% in the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after purchasing an additional 1,163,264 shares in the last quarter. Norges Bank bought a new stake in Avery Dennison during the 4th quarter valued at $185,292,000. Veritas Investment Partners UK Ltd. lifted its position in shares of Avery Dennison by 15.5% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 760,791 shares of the industrial products company’s stock worth $153,804,000 after acquiring an additional 102,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Avery Dennison by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 736,696 shares of the industrial products company’s stock worth $148,933,000 after acquiring an additional 31,114 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Avery Dennison by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 667,811 shares of the industrial products company’s stock valued at $135,005,000 after purchasing an additional 15,331 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.
Insider Transactions at Avery Dennison
In related news, insider Ryan D. Yost sold 584 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the completion of the sale, the insider now directly owns 2,259 shares in the company, valued at approximately $499,939.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Deena Baker-Nel sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total transaction of $684,510.00. Following the completion of the transaction, the senior vice president now owns 1,577 shares in the company, valued at $359,824.09. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ryan D. Yost sold 584 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total value of $129,245.04. Following the completion of the sale, the insider now directly owns 2,259 shares of the company’s stock, valued at approximately $499,939.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,583 shares of company stock worth $2,856,353. Insiders own 1.10% of the company’s stock.
Avery Dennison Price Performance
Shares of NYSE:AVY opened at $223.93 on Friday. The company’s fifty day moving average is $223.86 and its 200 day moving average is $215.09. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. Avery Dennison Co. has a 52 week low of $165.21 and a 52 week high of $231.53. The stock has a market cap of $18.04 billion, a PE ratio of 32.69, a PEG ratio of 1.92 and a beta of 0.88.
Avery Dennison (NYSE:AVY – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.15 by $0.14. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. Research analysts anticipate that Avery Dennison Co. will post 9.4 earnings per share for the current year.
Avery Dennison Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Wednesday, June 5th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio is 51.39%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on AVY. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. UBS Group cut their price objective on Avery Dennison from $260.00 to $252.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Truist Financial raised their target price on shares of Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Robert W. Baird boosted their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Finally, Stifel Nicolaus started coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $237.15.
Check Out Our Latest Analysis on Avery Dennison
Avery Dennison Company Profile
(Free Report)
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.
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