Swiss National Bank Sells 11,600 Shares of Avery Dennison Co. (NYSE:AVY)

Swiss National Bank lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 227,500 shares of the industrial products company’s stock after selling 11,600 shares during the quarter. Swiss National Bank owned approximately 0.28% of Avery Dennison worth $42,572,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Avery Dennison during the fourth quarter valued at approximately $2,357,000. Avantax Advisory Services Inc. raised its holdings in Avery Dennison by 7.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,436 shares of the industrial products company’s stock worth $1,579,000 after purchasing an additional 565 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Avery Dennison by 49.8% in the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 136 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Avery Dennison by 16.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,669 shares of the industrial products company’s stock worth $1,061,000 after purchasing an additional 815 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its holdings in Avery Dennison by 14.3% in the fourth quarter. Wealthfront Advisers LLC now owns 9,862 shares of the industrial products company’s stock worth $1,845,000 after purchasing an additional 1,233 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Trading Up 1.7 %

Avery Dennison stock opened at $178.91 on Monday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a one year low of $174.91 and a one year high of $233.48. The stock has a market capitalization of $14.13 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The business’s fifty day moving average is $185.49 and its 200 day moving average is $199.38.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 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, sell-side analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm 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 dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.97%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Analyst Ratings Changes

AVY has been the subject of a number of research reports. Raymond James reiterated an “outperform” rating and issued a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Bank of America decreased their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $222.51.

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.