Ensign Peak Advisors Inc Acquires 2,881 Shares of Avery Dennison Co. (NYSE:AVY)

Ensign Peak Advisors Inc increased its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,641 shares of the industrial products company's stock after buying an additional 2,881 shares during the quarter. Ensign Peak Advisors Inc's holdings in Avery Dennison were worth $7,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AVY. Ethic Inc. boosted its holdings in shares of Avery Dennison by 6.8% in the fourth quarter. Ethic Inc. now owns 6,835 shares of the industrial products company's stock worth $1,279,000 after acquiring an additional 435 shares during the period. FORA Capital LLC purchased a new stake in Avery Dennison during the fourth quarter valued at about $2,494,000. D. E. Shaw & Co. Inc. increased its holdings in shares of Avery Dennison by 10,797.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 116,821 shares of the industrial products company's stock worth $21,861,000 after buying an additional 115,749 shares during the period. Deutsche Bank AG grew its stake in shares of Avery Dennison by 81.3% in the fourth quarter. Deutsche Bank AG now owns 465,479 shares of the industrial products company's stock worth $87,105,000 after purchasing an additional 208,678 shares during the last quarter. Finally, Dean Capital Management grew its stake in shares of Avery Dennison by 1.2% in the fourth quarter. Dean Capital Management now owns 7,979 shares of the industrial products company's stock worth $1,493,000 after purchasing an additional 94 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Price Performance

Avery Dennison stock traded up $1.40 during mid-day trading on Friday, hitting $183.27. The stock had a trading volume of 655,398 shares, compared to its average volume of 611,387. The firm has a market capitalization of $14.33 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.07 and a beta of 0.88. 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 firm's 50 day moving average is $173.68 and its 200 day moving average is $185.82. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the company earned $2.29 EPS. The firm's revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side 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. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.05%. This is a boost 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 is currently 43.32%.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the sale, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. This represents a 2.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AVY shares. Truist Financial dropped their price target on Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. BMO Capital Markets dropped their price target on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Barclays dropped their price target on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. UBS Group decreased their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Raymond James decreased their price objective on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $206.60.

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.