Anchor Capital Advisors LLC cut its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 5.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 218,106 shares of the industrial products company's stock after selling 13,426 shares during the period. Anchor Capital Advisors LLC owned about 0.27% of Avery Dennison worth $44,092,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its holdings in shares of Avery Dennison by 4,159.9% during the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company's stock valued at $240,819,000 after buying an additional 1,163,264 shares during the last quarter. Morgan Stanley increased its stake in shares of Avery Dennison by 55.7% during the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company's stock worth $326,673,000 after purchasing an additional 639,521 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Avery Dennison by 22.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company's stock valued at $487,857,000 after purchasing an additional 493,857 shares in the last quarter. Boston Partners lifted its stake in shares of Avery Dennison by 43.9% in the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company's stock valued at $184,026,000 after purchasing an additional 307,325 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Avery Dennison by 27.5% in the 3rd quarter. FMR LLC now owns 958,790 shares of the industrial products company's stock valued at $175,142,000 after purchasing an additional 206,784 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.
Avery Dennison Stock Performance
AVY stock traded down $0.64 during midday trading on Monday, hitting $218.39. The stock had a trading volume of 437,919 shares, compared to its average volume of 445,795. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 3.38 and a beta of 0.90. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. The stock has a 50-day simple moving average of $215.91 and a 200 day simple moving average of $200.82. Avery Dennison Co. has a 52 week low of $158.93 and a 52 week high of $225.26.
Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting analysts' consensus estimates of $2.16. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $1.65 EPS. As a group, equities research analysts anticipate that Avery Dennison Co. will post 9.26 earnings per share for the current year.
Avery Dennison Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be paid a $0.88 dividend. This is a positive change from Avery Dennison's previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $3.52 annualized dividend and a yield of 1.61%. Avery Dennison's payout ratio is currently 47.30%.
Insider Transactions at Avery Dennison
In related news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares of the company's stock, valued at approximately $606,383.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Ignacio J. Walker sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the sale, the senior vice president now directly owns 6,102 shares of the company's stock, valued at $1,305,217.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of 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. In the last quarter, insiders have sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on AVY. UBS Group boosted their price target on Avery Dennison from $225.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, January 11th. Raymond James reaffirmed an "outperform" rating and set a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday. Robert W. Baird lifted their target price on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday. Truist Financial upped their price target on shares of Avery Dennison from $248.00 to $253.00 and gave the company a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison has a consensus rating of "Moderate Buy" and an average price target of $224.00.
Get Our Latest Research Report on Avery Dennison
Avery Dennison Profile
(
Free Report)
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.
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