Chicago Partners Investment Group LLC Increases Position in Avery Dennison Corporation $AVY

Chicago Partners Investment Group LLC lifted its holdings in Avery Dennison Corporation (NYSE:AVY) by 48.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,123 shares of the industrial products company’s stock after buying an additional 1,337 shares during the period. Chicago Partners Investment Group LLC’s holdings in Avery Dennison were worth $741,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Strengthening Families & Communities LLC lifted its stake in Avery Dennison by 16.6% in the second quarter. Strengthening Families & Communities LLC now owns 408 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 58 shares during the last quarter. Bill Few Associates Inc. lifted its stake in Avery Dennison by 0.5% in the second quarter. Bill Few Associates Inc. now owns 13,341 shares of the industrial products company’s stock valued at $2,341,000 after purchasing an additional 67 shares during the last quarter. Diversified Trust Co lifted its stake in Avery Dennison by 0.5% in the second quarter. Diversified Trust Co now owns 13,287 shares of the industrial products company’s stock valued at $2,331,000 after purchasing an additional 71 shares during the last quarter. Forum Financial Management LP lifted its stake in Avery Dennison by 5.6% in the first quarter. Forum Financial Management LP now owns 1,384 shares of the industrial products company’s stock valued at $246,000 after purchasing an additional 73 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in Avery Dennison by 3.6% in the first quarter. Brown Advisory Inc. now owns 2,169 shares of the industrial products company’s stock valued at $386,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Bank of America upped their price objective on Avery Dennison from $195.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upped their price objective on Avery Dennison from $172.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Avery Dennison in a research report on Tuesday, October 14th. Truist Financial dropped their target price on Avery Dennison from $204.00 to $203.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, UBS Group dropped their target price on Avery Dennison from $188.00 to $181.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.30.

Avery Dennison Trading Up 2.1%

NYSE:AVY opened at $163.67 on Wednesday. The company has a market cap of $12.76 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.37 and a beta of 0.95. Avery Dennison Corporation has a 1 year low of $156.23 and a 1 year high of $220.02. The stock’s fifty day moving average price is $166.42 and its two-hundred day moving average price is $172.27. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.04 and a quick ratio of 0.70.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.04. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 earnings per share. As a group, analysts expect that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were issued a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. Avery Dennison’s dividend payout ratio is presently 42.20%.

About Avery Dennison

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.