Avantax Advisory Services Inc. Increases Stake in Avery Dennison Co. (NYSE:AVY)

Avantax Advisory Services Inc. lifted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 7.2% during the 4th quarter, HoldingsChannel reports. The fund owned 8,436 shares of the industrial products company’s stock after acquiring an additional 565 shares during the period. Avantax Advisory Services Inc.’s holdings in Avery Dennison were worth $1,579,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares during the period. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison during the 4th quarter worth about $37,000. Brooklyn Investment Group purchased a new position in shares of Avery Dennison during the 3rd quarter worth about $66,000. Spire Wealth Management lifted its holdings in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 130 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 58 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on AVY shares. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a report on Friday, January 31st. UBS Group cut their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. Citigroup cut 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. Finally, Bank of America cut their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Stock Up 0.1 %

Shares of NYSE:AVY opened at $179.85 on Wednesday. Avery Dennison Co. has a 52-week low of $174.91 and a 52-week high of $233.48. 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 capitalization of $14.20 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a 50 day moving average of $185.19 and a two-hundred day moving average of $198.81.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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, analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is currently 40.37%.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were 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 of the company’s stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.