Avery Dennison Co. (NYSE:AVY) Shares Sold by Swiss National Bank

Swiss National Bank reduced its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,600 shares of the industrial products company's stock after selling 8,300 shares during the quarter. Swiss National Bank owned about 0.31% of Avery Dennison worth $50,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Avery Dennison in the third quarter valued at approximately $32,000. Milestone Investment Advisors LLC purchased a new position in shares of Avery Dennison during the third quarter worth approximately $36,000. Anchor Investment Management LLC purchased a new position in shares of Avery Dennison during the fourth quarter worth approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company's stock worth $54,000 after acquiring an additional 166 shares in the last quarter. Finally, Adirondack Trust Co. purchased a new position in shares of Avery Dennison during the third quarter worth approximately $55,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Up 0.7 %

AVY traded up $1.63 on Tuesday, hitting $223.77. The company had a trading volume of 295,742 shares, compared to its average volume of 444,671. Avery Dennison Co. has a 52-week low of $158.93 and a 52-week high of $225.26. The stock has a fifty day simple moving average of $216.74 and a 200-day simple moving average of $202.53. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58. The firm has a market capitalization of $18.02 billion, a P/E ratio of 32.67, a P/E/G ratio of 3.41 and a beta of 0.91.

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.81. This represents a $3.52 annualized dividend and a dividend yield of 1.57%. Avery Dennison's payout ratio is currently 47.30%.

Insider Buying and Selling

In related news, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 6,102 shares of the company's stock, valued at approximately $1,305,217.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Ignacio J. Walker sold 5,000 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the transaction, the senior vice president now directly owns 6,102 shares in the company, valued at $1,305,217.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 8,168 shares of the company's stock in a transaction dated 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 completion of the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock valued at $4,217,705 over the last ninety days. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Truist Financial lifted their price target on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a "buy" rating in a research note on Friday, April 26th. StockNews.com raised shares of Avery Dennison from a "hold" rating to a "buy" rating in a research note on Monday, April 22nd. 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 research note on Thursday, April 25th. Raymond James reaffirmed an "outperform" rating and issued a $240.00 target price (up from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Finally, Citigroup lifted their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a "neutral" rating in a research note on Thursday, April 4th. One investment 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, the company has a consensus rating of "Moderate Buy" and an average price target 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.