D. E. Shaw & Co. Inc. Has $21.86 Million Position in Avery Dennison Co. (NYSE:AVY)

D. E. Shaw & Co. Inc. grew its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 10,797.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,821 shares of the industrial products company's stock after purchasing an additional 115,749 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.15% of Avery Dennison worth $21,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Avery Dennison in the fourth quarter valued at $188,643,000. Raymond James Financial Inc. purchased a new position in shares of Avery Dennison during the fourth quarter worth about $51,521,000. Ameriprise Financial Inc. grew its holdings in shares of Avery Dennison by 12.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock worth $409,014,000 after purchasing an additional 250,359 shares during the last quarter. Capital World Investors purchased a new position in shares of Avery Dennison during the fourth quarter worth about $40,354,000. Finally, Deutsche Bank AG grew its holdings in shares of Avery Dennison by 81.3% during the fourth quarter. Deutsche Bank AG now owns 465,479 shares of the industrial products company's stock worth $87,105,000 after buying an additional 208,678 shares during the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the sale, the chairman now owns 316,300 shares of the company's stock, valued at $58,891,897. The trade was a 2.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.84% of the stock is owned by insiders.

Avery Dennison Stock Performance

NYSE AVY traded up $1.34 during midday trading on Thursday, hitting $181.85. The company had a trading volume of 474,129 shares, compared to its average volume of 609,020. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The stock has a market cap of $14.22 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 2.07 and a beta of 0.88. The firm has a fifty day simple moving average of $173.71 and a two-hundred day simple moving average of $186.15. Avery Dennison Co. has a fifty-two week low of $157.00 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the company posted $2.29 earnings per share. Avery Dennison's quarterly revenue was down .1% compared to the same quarter last year. Equities analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.94 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 2.07%. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's dividend payout ratio (DPR) is 43.32%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVY. Robert W. Baird reduced their price target on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Barclays decreased their price target on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Raymond James decreased their price target on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Truist Financial cut their price objective on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $205.00 to $172.00 in a research report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Avery Dennison currently has a consensus rating of "Moderate Buy" and an average price target of $206.60.

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.