Sequoia Financial Advisors LLC Has $1.06 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Sequoia Financial Advisors LLC raised its holdings in Avery Dennison Co. (NYSE:AVY) by 16.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,669 shares of the industrial products company’s stock after buying an additional 815 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Avery Dennison were worth $1,061,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC lifted its position in shares of Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison in the 3rd quarter worth approximately $39,000. Regents Gate Capital LLP acquired a new position in Avery Dennison in the fourth quarter worth $37,000. Brooklyn Investment Group bought a new stake in Avery Dennison during the 3rd quarter worth about $66,000. Finally, Spire Wealth Management grew its stake in shares of Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

Shares of AVY stock opened at $178.91 on Friday. The firm has a fifty day moving average of $185.49 and a 200-day moving average of $199.52. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 12-month low of $174.91 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, equities research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.97%. Avery Dennison’s dividend payout ratio is currently 40.37%.

Analyst Ratings Changes

Several research firms have issued reports on AVY. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a report on Monday, February 3rd. Bank of America decreased their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Truist Financial reiterated a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Barclays cut their target price on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Citigroup lowered their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

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.