Deutsche Bank AG Buys 208,678 Shares of Avery Dennison Co. (NYSE:AVY)

Deutsche Bank AG boosted its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 81.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,479 shares of the industrial products company's stock after buying an additional 208,678 shares during the quarter. Deutsche Bank AG owned approximately 0.58% of Avery Dennison worth $87,105,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Meyer Handelman Co. acquired a new position in shares of Avery Dennison in the 4th quarter valued at $4,263,000. Fifth Third Wealth Advisors LLC acquired a new position in Avery Dennison in the 4th quarter valued at about $218,000. Merit Financial Group LLC purchased a new position in Avery Dennison during the fourth quarter worth about $203,000. AdvisorNet Financial Inc boosted its stake in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after buying an additional 58 shares during the period. Finally, Running Oak Capital LLC lifted its position in shares of Avery Dennison by 13.5% during the fourth quarter. Running Oak Capital LLC now owns 63,830 shares of the industrial products company's stock worth $11,945,000 after purchasing an additional 7,572 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on AVY. BMO Capital Markets dropped their price target on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. UBS Group lowered their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Jefferies Financial Group assumed coverage on Avery Dennison in a report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 target price for the company. Robert W. Baird cut their price target on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Truist Financial dropped their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.60.

Avery Dennison Trading Up 0.7%

Shares of AVY stock traded up $1.34 on Thursday, reaching $181.85. The company had a trading volume of 474,129 shares, compared to its average volume of 609,020. 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 stock has a market cap of $14.22 billion, a PE ratio of 20.85, a PEG ratio of 2.07 and a beta of 0.88. The company has a 50-day moving average of $173.71 and a 200-day moving average of $186.15. Avery Dennison Co. has a 12 month low of $157.00 and a 12 month high of $233.48.

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

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, June 4th. Avery Dennison's dividend payout ratio (DPR) is presently 43.32%.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.84% of the stock is 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.