Mediolanum International Funds Ltd Lowers Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Mediolanum International Funds Ltd trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,611 shares of the industrial products company’s stock after selling 122 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Avery Dennison were worth $3,021,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Avery Dennison in the second quarter valued at about $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison during the 2nd quarter valued at $42,000. 1620 Investment Advisors Inc. bought a new position in Avery Dennison in the 2nd quarter valued at $51,000. Raleigh Capital Management Inc. increased its stake in shares of Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after buying an additional 238 shares during the period. Finally, Palisade Asset Management LLC bought a new stake in shares of Avery Dennison in the first quarter valued at about $64,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock worth $12,545,087 in the last three months. 1.10% of the stock is owned by insiders.

Avery Dennison Stock Up 1.1 %

Shares of NYSE:AVY opened at $207.16 on Friday. The company has a market capitalization of $16.69 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. The company has a 50 day moving average of $216.73 and a two-hundred day moving average of $218.44. Avery Dennison Co. has a 52-week low of $165.21 and a 52-week high of $233.48. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.10 EPS. As a group, analysts forecast that Avery Dennison Co. will post 9.41 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 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AVY shares. Truist Financial lifted their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price target for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Barclays initiated coverage on shares of Avery Dennison in a research note on Monday, October 7th. They issued an “overweight” rating and a $250.00 price target on the stock. Finally, BMO Capital Markets lowered their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $245.42.

Avery Dennison Profile

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.