Zurcher Kantonalbank Zurich Cantonalbank Sells 16,819 Shares of Avery Dennison Co. (NYSE:AVY)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 53.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,517 shares of the industrial products company's stock after selling 16,819 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Avery Dennison were worth $2,935,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Avery Dennison during the third quarter valued at $32,000. Milestone Investment Advisors LLC bought a new position in shares of Avery Dennison during the third quarter valued at $36,000. Anchor Investment Management LLC bought a new position in shares of Avery Dennison during the fourth quarter valued at $42,000. Adirondack Trust Co. bought a new position in shares of Avery Dennison during the third quarter valued at $55,000. Finally, Signaturefd LLC raised its stake in shares of Avery Dennison by 25.5% during the third quarter. Signaturefd LLC now owns 300 shares of the industrial products company's stock valued at $55,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the business's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the business's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the transaction, the insider now owns 2,843 shares in the company, valued at $606,383.47. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock worth $4,217,705 over the last three months. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on AVY. StockNews.com raised shares of Avery Dennison from a "hold" rating to a "buy" rating in a research note on Monday. UBS Group lifted their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, January 11th. Bank of America downgraded shares of Avery Dennison from a "buy" rating to an "underperform" rating and set a $208.00 target price for the company. in a research note on Tuesday, January 2nd. Truist Financial reissued a "buy" rating and set a $249.00 target price on shares of Avery Dennison in a research note on Friday, January 19th. Finally, Raymond James lifted their target price on shares of Avery Dennison from $199.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $221.00.

Avery Dennison Stock Down 0.2 %

NYSE:AVY traded down $0.44 during trading hours on Tuesday, reaching $211.33. The company had a trading volume of 841,174 shares, compared to its average volume of 436,507. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 3.27 and a beta of 0.90. The business's 50-day simple moving average is $215.22 and its two-hundred day simple moving average is $199.92. Avery Dennison Co. has a twelve month low of $158.93 and a twelve month high of $225.26. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.16. The firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The business's revenue was up 4.2% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. On average, equities analysts expect that Avery Dennison Co. will post 9.26 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison's dividend payout ratio is currently 52.17%.

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.