State of Wyoming Buys 2,819 Shares of Avery Dennison Corporation $AVY

State of Wyoming purchased a new stake in Avery Dennison Corporation (NYSE:AVY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,819 shares of the industrial products company’s stock, valued at approximately $481,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVY. Activest Wealth Management acquired a new position in shares of Avery Dennison during the third quarter valued at about $27,000. Trust Co. of Vermont bought a new stake in shares of Avery Dennison in the second quarter valued at about $27,000. Elevation Wealth Partners LLC grew its position in Avery Dennison by 684.0% during the second quarter. Elevation Wealth Partners LLC now owns 196 shares of the industrial products company’s stock worth $32,000 after buying an additional 171 shares in the last quarter. Louisbourg Investments Inc. acquired a new stake in Avery Dennison during the third quarter worth about $39,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Avery Dennison during the second quarter valued at about $40,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

Shares of AVY stock opened at $187.15 on Tuesday. The stock’s fifty day simple moving average is $174.31 and its 200 day simple moving average is $172.28. Avery Dennison Corporation has a one year low of $152.42 and a one year high of $199.54. The firm has a market cap of $14.18 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.17 and a beta of 0.79. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.13 and a quick ratio of 0.79.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.10. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.26 billion. Avery Dennison had a return on equity of 34.60% and a net margin of 7.62%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.37 earnings per share. On average, analysts expect that Avery Dennison Corporation will post 10.17 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have commented on AVY. JPMorgan Chase & Co. upped their price target on Avery Dennison from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday. Bank of America reissued a “buy” rating on shares of Avery Dennison in a report on Friday, August 14th. Jefferies Financial Group reissued a “hold” rating and set a $181.00 price objective on shares of Avery Dennison in a report on Monday, September 28th. Truist Financial lowered their price objective on Avery Dennison from $209.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Finally, Citigroup upped their target price on Avery Dennison from $186.00 to $191.00 and gave the company a “neutral” rating in a research note on Monday. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.10.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,886 shares of Avery Dennison stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $170.68, for a total transaction of $663,262.48. Following the completion of the transaction, the senior vice president directly owned 7,126 shares of the company’s stock, valued at $1,216,265.68. This trade represents a 35.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.81% of the stock is owned by company insiders.

Avery Dennison Company Profile

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.

The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.