Avery Dennison Co. (NYSE:AVY) Position Increased by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its position in Avery Dennison Co. (NYSE:AVY) by 64.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 423 shares of the industrial products company’s stock after buying an additional 166 shares during the quarter. Jones Financial Companies Lllp’s holdings in Avery Dennison were worth $79,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AVY. Nordea Investment Management AB raised its stake in Avery Dennison by 485.2% during the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock valued at $6,715,000 after purchasing an additional 29,541 shares during the period. Icon Wealth Advisors LLC grew its holdings in shares of Avery Dennison by 553.5% during the third quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock valued at $693,000 after buying an additional 2,657 shares in the last quarter. Meyer Handelman Co. acquired a new position in Avery Dennison during the fourth quarter valued at $4,263,000. JPMorgan Chase & Co. lifted its stake in Avery Dennison by 12.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after acquiring an additional 46,390 shares in the last quarter. Finally, Unigestion Holding SA acquired a new stake in Avery Dennison during the 3rd quarter worth about $6,701,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AVY shares. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a research report on Friday, January 31st. Citigroup lowered their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Truist Financial reiterated a “buy” rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, Bank of America lowered their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Stock Performance

AVY opened at $178.91 on Monday. The stock has a 50-day moving average of $185.49 and a 200-day moving average of $199.38. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a 52-week low of $174.91 and a 52-week high of $233.48. The company has a market cap of $14.13 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, equities research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

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.