Jefferies Financial Group Inc. Purchases Shares of 2,900 Avery Dennison Co. (NYSE:AVY)

Jefferies Financial Group Inc. purchased a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,900 shares of the industrial products company's stock, valued at approximately $543,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Regents Gate Capital LLP bought a new stake in shares of Avery Dennison during the 4th quarter worth $37,000. Spire Wealth Management lifted its position in Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after acquiring an additional 130 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after acquiring an additional 58 shares during the period. VisionPoint Advisory Group LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at about $68,000. Finally, Assetmark Inc. grew its position in shares of Avery Dennison by 22.5% in 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 during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.84% of the stock is owned by insiders.

Avery Dennison Stock Performance

Avery Dennison stock traded down $0.93 on Thursday, hitting $179.19. The company's stock had a trading volume of 57,403 shares, compared to its average volume of 777,850. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. The firm has a market cap of $14.01 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The company has a fifty day moving average price of $173.99 and a 200-day moving average price of $185.31.

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 analysts' consensus estimates 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 business's revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.29 EPS. On average, equities analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The business 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 dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, June 4th. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's dividend payout ratio (DPR) is 43.32%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday. BMO Capital Markets cut their price target on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Truist Financial reduced their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Argus lowered shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Jefferies Financial Group initiated coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They set a "hold" rating and a $175.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.60.

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.