Tidal Investments LLC Buys 8,074 Shares of Avery Dennison Co. (NYSE:AVY)

Tidal Investments LLC raised its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 135.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,031 shares of the industrial products company's stock after acquiring an additional 8,074 shares during the quarter. Tidal Investments LLC's holdings in Avery Dennison were worth $2,626,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Regents Gate Capital LLP acquired a new stake in Avery Dennison during the 4th quarter valued at approximately $37,000. Spire Wealth Management grew its position in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 130 shares during the period. VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison in the 4th quarter valued at $68,000. Assetmark Inc. lifted its stake in Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Avery Dennison by 49.8% during the 4th quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock valued at $77,000 after acquiring an additional 136 shares in the last quarter. Institutional investors own 94.17% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group dropped their price objective on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Truist Financial decreased 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. Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Robert W. Baird decreased their price objective on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Raymond James reduced their price target on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $206.60.

Avery Dennison Trading Down 0.9%

AVY stock traded down $1.67 on Wednesday, reaching $179.68. The company's stock had a trading volume of 56,003 shares, compared to its average volume of 611,237. The business has a fifty day simple moving average of $174.02 and a two-hundred day simple moving average of $184.45. Avery Dennison Co. has a 12-month low of $157.00 and a 12-month high of $233.48. The firm has a market cap of $14.05 billion, a PE ratio of 20.61, a PEG ratio of 2.07 and a beta of 0.88. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Avery Dennison's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $2.29 EPS. As a group, research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.09%. Avery Dennison's dividend payout ratio (DPR) is presently 43.32%.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares of the company's stock, valued at approximately $58,891,897. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.84% of the company's stock.

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.