Canada Post Corp Registered Pension Plan Takes Position in Avery Dennison Co. (NYSE:AVY)

Canada Post Corp Registered Pension Plan acquired a new stake in Avery Dennison Co. (NYSE:AVY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,247 shares of the industrial products company's stock, valued at approximately $1,918,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVY. Greenleaf Trust grew 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 buying an additional 57 shares during the period. AdvisorNet Financial Inc increased 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 purchasing an additional 58 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings 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 purchasing an additional 58 shares during the last quarter. RMR Wealth Builders boosted its position in Avery Dennison by 5.7% during the fourth quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company's stock worth $205,000 after purchasing an additional 59 shares in the last quarter. Finally, New York Life Investment Management LLC increased its position in shares of Avery Dennison by 0.6% in 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 buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the firm's stock in a transaction on 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 transaction, the chairman now owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of research reports. Citigroup lowered their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research note on Friday, January 31st. Barclays cut their price objective on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. 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 report on Friday, January 31st. Finally, Raymond James reissued 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $220.87.

Avery Dennison Trading Up 1.7 %

Shares of AVY stock traded up $2.83 during trading hours on Friday, hitting $170.98. 625,563 shares of the company were exchanged, compared to its average volume of 584,824. Avery Dennison Co. has a 1 year low of $157.00 and a 1 year high of $233.48. The firm has a fifty day moving average of $177.54 and a 200 day moving average of $190.94. The firm has a market cap of $13.43 billion, a PE ratio of 19.61, a PEG ratio of 2.07 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.05% and a return on equity of 33.06%. Analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's payout ratio is currently 40.37%.

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.