Raymond James & Associates Raises Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Raymond James & Associates boosted its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,552 shares of the industrial products company's stock after purchasing an additional 9,967 shares during the quarter. Raymond James & Associates owned about 0.33% of Avery Dennison worth $58,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Avery Dennison during the third quarter worth about $32,000. Milestone Investment Advisors LLC bought a new position in shares of Avery Dennison in the third quarter worth approximately $36,000. Anchor Investment Management LLC purchased a new stake in Avery Dennison in the fourth quarter valued at approximately $42,000. VisionPoint Advisory Group LLC bought a new stake in Avery Dennison during the fourth quarter valued at approximately $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Avery Dennison by 164.4% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company's stock worth $54,000 after buying an additional 166 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Insider Activity at Avery Dennison

In related news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction dated 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 directly owns 2,843 shares of the company's stock, valued at $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is available 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 sale, the chairman now 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 at this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction that occurred on Monday, March 11th. The shares were 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 of the company's stock, valued at $606,383.47. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock worth $4,217,705 over the last quarter. Corporate insiders own 1.10% of the company's stock.

Avery Dennison Trading Up 0.9 %

Avery Dennison stock traded up $2.04 during trading hours on Friday, reaching $221.55. The stock had a trading volume of 319,981 shares, compared to its average volume of 470,654. The stock has a market cap of $17.85 billion, a PE ratio of 32.34, a PEG ratio of 3.38 and a beta of 0.91. The company has a fifty day simple moving average of $216.39 and a 200-day simple moving average of $201.70. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58. 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 results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting analysts' consensus estimates of $2.16. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the company posted $1.65 EPS. Avery Dennison's quarterly revenue was up 4.2% compared to the same quarter last year. Analysts forecast that Avery Dennison Co. will post 9.27 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm 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 Tuesday, June 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.59%. Avery Dennison's dividend payout ratio (DPR) is presently 47.30%.

Wall Street Analysts Forecast Growth

AVY has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the company an "overweight" rating in a research report on Thursday, April 25th. Truist Financial increased their price objective on Avery Dennison from $248.00 to $253.00 and gave the company a "buy" rating in a research report on Friday, April 26th. Raymond James restated an "outperform" rating and issued a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Citigroup increased their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the company a "neutral" rating in a research report on Thursday, April 4th. Finally, Robert W. Baird upped their price objective on shares of Avery Dennison from $215.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $224.00.

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.