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

Raymond James & Associates raised its position in shares of Avery Dennison Co. (NYSE:AVY) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 252,585 shares of the industrial products company’s stock after buying an additional 3,500 shares during the period. Raymond James & Associates owned about 0.31% of Avery Dennison worth $51,063,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AVY. New York Life Investment Management LLC raised its stake in shares of Avery Dennison by 0.5% in the third quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock valued at $2,092,000 after acquiring an additional 58 shares in the last quarter. Signaturefd LLC raised its stake in Avery Dennison by 25.5% in the third quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock valued at $55,000 after buying an additional 61 shares in the last quarter. Advisor Partners II LLC raised its stake in Avery Dennison by 1.9% in the third quarter. Advisor Partners II LLC now owns 3,342 shares of the industrial products company’s stock valued at $610,000 after buying an additional 63 shares in the last quarter. Yousif Capital Management LLC raised its stake in Avery Dennison by 0.5% in the first quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock valued at $2,215,000 after buying an additional 65 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Avery Dennison by 56.3% in the second quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock valued at $34,000 after buying an additional 72 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Trading Up 2.2 %

NYSE:AVY opened at $224.24 on Thursday. The firm has a market cap of $18.06 billion, a P/E ratio of 36.11, a PEG ratio of 3.35 and a beta of 0.90. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23. The stock’s 50 day simple moving average is $209.52 and its 200-day simple moving average is $195.32. Avery Dennison Co. has a 12-month low of $158.93 and a 12-month high of $224.24.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. Avery Dennison’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts anticipate that Avery Dennison Co. will post 9.28 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Tuesday, March 5th. Avery Dennison’s dividend payout ratio is presently 52.17%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction 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 owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Avery Dennison news, SVP Ignacio J. Walker sold 5,000 shares of the company’s stock in a transaction on 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 sale, the senior vice president now owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now directly 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 19,879 shares of company stock valued at $4,217,705 over the last quarter. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AVY shares. Citigroup cut Avery Dennison from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $197.00 to $214.00 in a research report on Wednesday, January 3rd. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America cut Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price on the stock. in a research report on Tuesday, January 2nd. Truist Financial reiterated a “buy” rating and set a $249.00 target price on shares of Avery Dennison in a research report on Friday, January 19th. Finally, Raymond James lifted their target price on Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $218.78.

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.