CIBC Asset Management Inc Boosts Stake in Avery Dennison Co. (NYSE:AVY)

CIBC Asset Management Inc lifted its position in Avery Dennison Co. (NYSE:AVY) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,148 shares of the industrial products company’s stock after buying an additional 553 shares during the quarter. CIBC Asset Management Inc’s holdings in Avery Dennison were worth $3,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AVY. Larson Financial Group LLC raised its holdings in shares of Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after buying an additional 71 shares during the period. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison in the 3rd quarter valued at $36,000. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison in the 4th quarter valued at $37,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison in the 3rd quarter valued at $39,000. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after buying an additional 238 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AVY shares. Raymond James reissued an “outperform” rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. UBS Group lowered their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Barclays lowered their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets lowered their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Truist Financial reissued a “buy” rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $227.15.

Avery Dennison Stock Up 0.8 %

AVY opened at $184.38 on Friday. The business has a 50 day moving average price of $187.22 and a two-hundred day moving average price of $202.71. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The company has a market cap of $14.81 billion, a PE ratio of 21.14, a P/E/G ratio of 2.06 and a beta of 0.89. Avery Dennison Co. has a 52 week low of $178.72 and a 52 week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, research analysts anticipate that Avery Dennison Co. will post 9.97 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

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.