Czech National Bank Acquires 1,033 Shares of Avery Dennison Co. (NYSE:AVY)

Czech National Bank increased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 5.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 18,454 shares of the industrial products company’s stock after acquiring an additional 1,033 shares during the period. Czech National Bank’s holdings in Avery Dennison were worth $3,284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVY. Greenleaf Trust lifted its position in Avery Dennison by 4.4% during the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 57 shares during the period. HBK Sorce Advisory LLC lifted its position in Avery Dennison by 0.5% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock worth $2,220,000 after acquiring an additional 58 shares during the period. Baker Avenue Asset Management LP lifted its position in Avery Dennison by 5.7% during the 4th quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company’s stock worth $206,000 after acquiring an additional 59 shares during the period. New York Life Investment Management LLC lifted its position in Avery Dennison by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company’s stock worth $2,055,000 after acquiring an additional 61 shares during the period. Finally, Smith Moore & CO. lifted its position in Avery Dennison by 1.4% during the 4th quarter. Smith Moore & CO. now owns 4,720 shares of the industrial products company’s stock worth $883,000 after acquiring an additional 63 shares during the period. 94.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group lowered their price target on Avery Dennison from $207.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $205.00 to $172.00 in a report on Thursday, April 24th. Wall Street Zen raised Avery Dennison from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Truist Financial decreased their price objective on Avery Dennison from $215.00 to $210.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Barclays decreased their price objective on Avery Dennison from $225.00 to $210.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $206.60.

Avery Dennison Stock Performance

NYSE AVY opened at $178.83 on Thursday. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The stock has a 50-day moving average of $174.24 and a 200 day moving average of $183.60.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.02). The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 EPS. Sell-side analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.94 dividend. This is a boost from Avery Dennison’s previous quarterly dividend of $0.88. The ex-dividend date is Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 2.10%. Avery Dennison’s dividend payout ratio is presently 43.32%.

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.