PharVision Advisers LLC Takes $397,000 Position in Avery Dennison Co. (NYSE:AVY)

PharVision Advisers LLC acquired a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,122 shares of the industrial products company's stock, valued at approximately $397,000.

A number of other large investors also recently bought and sold shares of AVY. Norges Bank bought a new stake in shares of Avery Dennison in the 4th quarter worth approximately $188,643,000. Raymond James Financial Inc. purchased a new stake in Avery Dennison in the fourth quarter worth approximately $51,521,000. Ameriprise Financial Inc. grew its holdings in shares of Avery Dennison by 12.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock worth $409,014,000 after acquiring an additional 250,359 shares during the period. Capital World Investors purchased a new stake in shares of Avery Dennison during the 4th quarter valued at about $40,354,000. Finally, Deutsche Bank AG increased its position in shares of Avery Dennison by 81.3% during the 4th quarter. Deutsche Bank AG now owns 465,479 shares of the industrial products company's stock valued at $87,105,000 after purchasing an additional 208,678 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the sale, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. The trade was a 4.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AVY shares. Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday. Jefferies Financial Group began coverage on Avery Dennison in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective for the company. Argus lowered Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Truist Financial decreased their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James reduced their target price 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Avery Dennison currently has an average rating of "Moderate Buy" and a consensus price target of $206.60.

Avery Dennison Price Performance

AVY traded down $2.66 during trading on Monday, reaching $177.64. 586,550 shares of the company traded hands, compared to its average volume of 612,831. Avery Dennison Co. has a 12-month low of $157.00 and a 12-month high of $233.48. The firm has a fifty day simple moving average of $173.96 and a 200 day simple moving average of $184.66. 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 company has a market cap of $13.89 billion, a P/E ratio of 20.37, a PEG ratio of 2.07 and a beta of 0.88.

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

Avery Dennison Increases Dividend

The company 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. 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 dividend yield of 2.12%. The ex-dividend date is Wednesday, June 4th. Avery Dennison's payout ratio is currently 43.32%.

About Avery Dennison

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.