Avery Dennison Co. (NYSE:AVY) Shares Bought by Running Oak Capital LLC

Running Oak Capital LLC boosted its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,779 shares of the industrial products company's stock after purchasing an additional 6,762 shares during the quarter. Avery Dennison makes up 1.8% of Running Oak Capital LLC's investment portfolio, making the stock its 26th largest position. Running Oak Capital LLC owned about 0.06% of Avery Dennison worth $9,053,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its stake in Avery Dennison by 22.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company's stock worth $487,857,000 after purchasing an additional 493,857 shares during the period. Morgan Stanley boosted its position 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 valued at $326,673,000 after acquiring an additional 639,521 shares during the last quarter. Cerity Partners LLC boosted its position 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 acquiring an additional 1,163,264 shares during the last quarter. Truist Financial Corp boosted its position in shares of Avery Dennison by 5.5% during the 3rd quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company's stock valued at $200,302,000 after acquiring an additional 57,106 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Avery Dennison by 43.9% during the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company's stock valued at $184,026,000 after acquiring an additional 307,325 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of NYSE AVY traded up $1.68 during trading hours on Thursday, reaching $219.51. 323,637 shares of the stock traded hands, compared to its average volume of 446,766. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. The company's 50-day simple moving average is $216.25 and its two-hundred day simple moving average is $201.31. The company has a market capitalization of $17.67 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 3.35 and a beta of 0.91. 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 announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting analysts' consensus estimates of $2.16. The business had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 EPS. Equities research analysts forecast that Avery Dennison Co. will post 9.27 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be paid a $0.88 dividend. This is a boost from Avery Dennison's previous quarterly dividend of $0.81. This represents a $3.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, June 4th. Avery Dennison's payout ratio is 47.30%.

Insiders Place Their Bets

In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now directly owns 5,018 shares of the company's stock, valued at approximately $1,014,940.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Mitchell R. Butier sold 8,168 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was 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 of the company's stock, valued at $69,878,414.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Julia A. Stewart sold 5,311 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now directly owns 5,018 shares in the company, valued at $1,014,940.68. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock valued at $4,217,705 in the last ninety days. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup lifted their price target on Avery Dennison from $223.00 to $234.00 and gave the company a "neutral" rating in a research report on Thursday, April 4th. Truist Financial lifted their price target on Avery Dennison from $248.00 to $253.00 and gave the company a "buy" rating in a research report on Friday, April 26th. Robert W. Baird lifted their price target on Avery Dennison from $215.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, April 25th. Raymond James reiterated an "outperform" rating and set a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised their price objective on Avery Dennison from $218.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Avery Dennison currently has a consensus rating of "Moderate Buy" and a consensus target price of $224.00.

Avery Dennison 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.