Lindbrook Capital LLC Increases Holdings in Avery Dennison Co. (NYSE:AVY)

Lindbrook Capital LLC boosted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 630 shares of the industrial products company’s stock after buying an additional 65 shares during the period. Lindbrook Capital LLC’s holdings in Avery Dennison were worth $127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AVY. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Avery Dennison during the third quarter worth $32,000. Milestone Investment Advisors LLC purchased a new stake in Avery Dennison during the third quarter worth $36,000. Anchor Investment Management LLC purchased a new stake in Avery Dennison during the fourth quarter worth $42,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in 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 buying an additional 166 shares during the period. Finally, Adirondack Trust Co. purchased a new stake in Avery Dennison during the third quarter worth $55,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY opened at $211.33 on Wednesday. The business’s 50-day moving average is $215.22 and its two-hundred day moving average is $199.92. The company has a market capitalization of $17.02 billion, a P/E ratio of 34.03, a P/E/G ratio of 3.27 and a beta of 0.90. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. Avery Dennison Co. has a fifty-two week low of $158.93 and a fifty-two week high of $225.26.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, hitting the consensus estimate of $2.16. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $1.65 EPS. Research analysts predict that Avery Dennison Co. will post 9.26 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 1.53%. The ex-dividend date was Tuesday, March 5th. Avery Dennison’s dividend payout ratio is currently 52.17%.

Insiders Place Their Bets

In other news, SVP Ignacio J. Walker sold 5,000 shares of the 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 sale, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The transaction 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 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 sale, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 8,168 shares of the 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 sale, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,879 shares of company stock valued at $4,217,705. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AVY shares. JPMorgan Chase & Co. increased their price objective on Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Bank of America lowered Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective for the company. in a report on Tuesday, January 2nd. UBS Group increased their price objective on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Truist Financial reiterated a “buy” rating and set a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. Finally, Raymond James increased their price objective on Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.00.

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.