AEGON ASSET MANAGEMENT UK Plc Purchases 47,877 Shares of Avery Dennison Co. (NYSE:AVY)

AEGON ASSET MANAGEMENT UK Plc grew its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 50.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,945 shares of the industrial products company's stock after purchasing an additional 47,877 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.18% of Avery Dennison worth $25,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Regents Gate Capital LLP purchased a new stake in Avery Dennison in the 4th quarter worth about $37,000. American National Bank & Trust acquired a new position in shares of Avery Dennison in the 1st quarter valued at about $49,000. Spire Wealth Management lifted its position in shares of Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after purchasing an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in shares of Avery Dennison during the fourth quarter worth approximately $68,000. Finally, Assetmark Inc. grew its position in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial decreased their target price on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird reduced their price objective on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Jefferies Financial Group initiated coverage on Avery Dennison in a research report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 target price on the stock. Raymond James reduced their price target on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $206.60.

Avery Dennison Stock Performance

Shares of NYSE AVY traded down $1.09 during trading hours on Thursday, hitting $177.64. 658,645 shares of the company's stock were exchanged, compared to its average volume of 775,491. The company's 50-day moving average price is $174.24 and its 200-day moving average price is $183.60. Avery Dennison Co. has a 1-year low of $157.00 and a 1-year high of $233.48. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.07 and a beta of 0.88. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY - Get Free Report) last posted 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). The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm's revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.29 earnings per share. On average, sell-side analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.12%. 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 currently 43.32%.

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.