ProShare Advisors LLC boosted its stake in shares of Avery Dennison Co. (NYSE:AVY – Free Report) by 19.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,898 shares of the industrial products company’s stock after buying an additional 3,371 shares during the quarter. ProShare Advisors LLC’s holdings in Avery Dennison were worth $3,739,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SouthState Corp lifted its holdings in shares of Avery Dennison by 130.0% in the first quarter. SouthState Corp now owns 138 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Clear Street Markets LLC lifted its stake in shares of Avery Dennison by 92.7% during the first quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock valued at $28,000 after buying an additional 76 shares during the period. Belpointe Asset Management LLC purchased a new position in shares of Avery Dennison during the fourth quarter valued at approximately $30,000. Milestone Investment Advisors LLC purchased a new position in shares of Avery Dennison during the first quarter valued at approximately $35,000. Finally, Eagle Bay Advisors LLC acquired a new position in Avery Dennison during the second quarter worth approximately $33,000. 91.09% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
AVY has been the subject of several recent research reports. Truist Financial reissued a “buy” rating and issued a $215.00 price objective on shares of Avery Dennison in a research report on Friday. StockNews.com began coverage on shares of Avery Dennison in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Argus dropped their price target on shares of Avery Dennison from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, July 26th. BMO Capital Markets decreased their target price on shares of Avery Dennison from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 26th. Finally, Citigroup upped their target price on Avery Dennison from $200.00 to $205.00 in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.00.
Insider Transactions at Avery Dennison
In other news, SVP Ignacio J. Walker sold 403 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $180.33, for a total value of $72,672.99. Following the completion of the sale, the senior vice president now directly owns 11,102 shares in the company, valued at approximately $2,002,023.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Ignacio J. Walker sold 403 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $180.33, for a total transaction of $72,672.99. Following the completion of the sale, the senior vice president now directly owns 11,102 shares in the company, valued at approximately $2,002,023.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julia A. Stewart sold 5,633 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $186.14, for a total transaction of $1,048,526.62. Following the sale, the director now owns 10,329 shares of the company’s stock, valued at $1,922,640.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,836 shares of company stock worth $2,014,000. 1.10% of the stock is currently owned by insiders.
Avery Dennison Stock Up 0.7 %
Shares of Avery Dennison stock opened at $181.88 on Tuesday. Avery Dennison Co. has a one year low of $157.28 and a one year high of $195.95. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.09 and a quick ratio of 0.71. The stock’s 50-day moving average is $181.96 and its 200 day moving average is $175.23. The firm has a market cap of $14.66 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 3.25 and a beta of 0.96.
Avery Dennison (NYSE:AVY – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.13). The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.17 billion. Avery Dennison had a net margin of 6.66% and a return on equity of 31.13%. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.64 earnings per share. Equities research analysts anticipate that Avery Dennison Co. will post 8.04 EPS for the current year.
Avery Dennison Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.78%. Avery Dennison’s payout ratio is 46.69%.
Avery Dennison Profile
Avery Dennison Corporation operates as materials science and digital identification solutions company. It provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and various converted products and solutions. The company designs and manufactures a range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance.
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