Avery Dennison Co. (NYSE:AVY) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 19,370.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 428,730 shares of the industrial products company's stock after purchasing an additional 426,528 shares during the quarter. GAMMA Investing LLC owned 0.54% of Avery Dennison worth $76,301,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AVY. Greenleaf Trust boosted its holdings in shares of Avery Dennison by 4.4% in the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company's stock valued at $253,000 after acquiring an additional 57 shares during the period. HBK Sorce Advisory LLC boosted its stake in Avery Dennison by 0.5% during the 4th 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 period. Baker Avenue Asset Management LP grew its position in Avery Dennison by 5.7% during the 4th quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company's stock worth $206,000 after purchasing an additional 59 shares during the last quarter. New York Life Investment Management LLC increased its stake in 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 purchasing an additional 61 shares during the period. Finally, Smith Moore & CO. raised its holdings in shares of Avery Dennison by 1.4% in the fourth quarter. Smith Moore & CO. now owns 4,720 shares of the industrial products company's stock valued at $883,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Argus lowered shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. UBS Group reduced their target price on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Truist Financial dropped their price target on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. BMO Capital Markets reduced their price objective on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. cut Avery Dennison from an "overweight" rating to a "neutral" rating and dropped their target price 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 issued a buy rating to the stock. According to MarketBeat.com, Avery Dennison has a consensus rating of "Moderate Buy" and an average target price of $206.60.

Avery Dennison Stock Performance

Shares of NYSE AVY traded down $1.09 during trading on Thursday, reaching $177.64. The stock had a trading volume of 658,379 shares, compared to its average volume of 618,689. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The stock has a market cap of $13.89 billion, a PE ratio of 20.37, a P/E/G ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. The firm's 50 day moving average price is $174.24 and its two-hundred day moving average price is $183.60.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results 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 net margin of 8.05% and a return on equity of 33.06%. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the firm earned $2.29 EPS. The firm's revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.94 dividend. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, June 4th. Avery Dennison's payout ratio is presently 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.