Avery Dennison Co. (NYSE:AVY) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,615 shares of the industrial products company's stock after selling 12,769 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.15% of Avery Dennison worth $23,777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cerity Partners LLC grew its holdings in shares of Avery Dennison by 4,159.9% during the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company's stock worth $240,819,000 after purchasing an additional 1,163,264 shares during the last quarter. Norges Bank bought a new stake in shares of Avery Dennison during the fourth quarter worth about $185,292,000. Morgan Stanley grew its holdings in shares of Avery Dennison by 55.7% during the third 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. grew its holdings in shares of Avery Dennison by 22.7% during the third 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 last quarter. Finally, Boston Partners grew its holdings in shares of Avery Dennison by 43.9% during the third quarter. Boston Partners now owns 1,007,542 shares of the industrial products company's stock worth $184,026,000 after purchasing an additional 307,325 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

AVY has been the topic of several analyst reports. Raymond James reiterated an "outperform" rating and issued a $240.00 target price (up from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. Citigroup upped their target price on Avery Dennison from $223.00 to $234.00 and gave the company a "neutral" rating in a report on Thursday, April 4th. JPMorgan Chase & Co. upped their target price on Avery Dennison from $218.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, April 25th. StockNews.com upgraded Avery Dennison from a "hold" rating to a "buy" rating in a report on Monday, April 22nd. Finally, Truist Financial boosted their price target on Avery Dennison from $248.00 to $253.00 and gave the company a "buy" rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.50.

Avery Dennison Stock Performance

Shares of Avery Dennison stock traded down $0.30 during trading hours on Monday, hitting $226.00. 345,382 shares of the company's stock traded hands, compared to its average volume of 444,748. Avery Dennison Co. has a 12-month low of $158.93 and a 12-month high of $228.15. The stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 3.47 and a beta of 0.91. The company has a fifty day simple moving average of $218.34 and a 200-day simple moving average of $205.57. 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 (NYSE:AVY - Get Free Report) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.14. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. Equities research analysts anticipate that Avery Dennison Co. will post 9.31 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, June 5th. 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 1.56%. Avery Dennison's dividend payout ratio (DPR) is currently 47.30%.

Insider Activity

In related news, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares of the company's stock, valued at approximately $1,305,217.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Avery Dennison news, SVP Ignacio J. Walker sold 5,000 shares of the firm's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the transaction, the senior vice president now owns 6,102 shares in the company, valued at approximately $1,305,217.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gregory Lovins sold 2,894 shares of the firm's stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $227.20, for a total value of $657,516.80. Following the completion of the transaction, the chief financial officer now owns 67,457 shares of the company's stock, valued at approximately $15,326,230.40. The disclosure for this sale can be found here. Insiders sold a total of 17,462 shares of company stock valued at $3,801,019 in the last ninety days. 1.10% of the stock is currently owned by insiders.

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.