Avery Dennison Corporation $AVY Stock: Eurizon Capital SGR S.p.A. Cuts Stake

Eurizon Capital SGR S.p.A. decreased its stake in Avery Dennison Corporation (NYSE:AVY) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,676 shares of the industrial products company’s stock after selling 16,011 shares during the quarter. Eurizon Capital SGR S.p.A. owned approximately 0.24% of Avery Dennison worth $30,325,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Trust Co. of Vermont acquired a new position in Avery Dennison during the second quarter worth $27,000. Activest Wealth Management acquired a new stake in shares of Avery Dennison in the 3rd quarter valued at $27,000. Elevation Wealth Partners LLC grew its holdings in shares of Avery Dennison by 684.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 196 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 171 shares during the last quarter. Louisbourg Investments Inc. bought a new stake in shares of Avery Dennison in the 3rd quarter worth about $39,000. Finally, Roxbury Financial LLC acquired a new stake in shares of Avery Dennison during the 2nd quarter worth about $40,000. 94.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AVY has been the subject of several analyst reports. Citigroup lifted their price target on shares of Avery Dennison from $186.00 to $191.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Wall Street Zen cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Sunday, November 8th. Bank of America reaffirmed a “buy” rating on shares of Avery Dennison in a report on Friday, August 14th. Truist Financial cut their target price on shares of Avery Dennison from $209.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $181.00 target price on shares of Avery Dennison in a report on Monday, September 28th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $201.10.

Insider Buying and Selling

In related news, SVP Nicholas Colisto sold 3,886 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $170.68, for a total value of $663,262.48. Following the completion of the transaction, the senior vice president owned 7,126 shares in the company, valued at $1,216,265.68. The trade was a 35.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andres Alberto Lopez sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $193.80, for a total transaction of $775,200.00. Following the completion of the transaction, the director owned 1,147 shares of the company’s stock, valued at $222,288.60. This trade represents a 77.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is currently owned by corporate insiders.

Avery Dennison Stock Performance

Avery Dennison stock opened at $188.03 on Friday. The stock has a 50-day simple moving average of $176.24 and a 200 day simple moving average of $172.35. The company has a quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of 1.33. Avery Dennison Corporation has a 12-month low of $152.42 and a 12-month high of $199.54. The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 2.20 and a beta of 0.77.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.10. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.26 billion. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.37 EPS. On average, research analysts anticipate that Avery Dennison Corporation will post 10.17 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, December 2nd. Avery Dennison’s dividend payout ratio is presently 43.29%.

About Avery Dennison

Avery Dennison is a global materials science and digital identification solutions company. Its products include pressure-sensitive labels and adhesives, packaging materials, and graphic films used in applications such as product labeling, vehicle graphics, and building signage. The company also develops technologies that help businesses identify and track products, including RFID inlays and tags, which can support inventory management and supply-chain visibility. Its solutions serve customers across industries such as apparel, food and beverage, logistics, healthcare, and retail.