Vanguard Group Inc. Raises Stock Position in Avery Dennison Co. (NYSE:AVY)

Vanguard Group Inc. raised its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,681,709 shares of the industrial products company’s stock after purchasing an additional 33,149 shares during the quarter. Vanguard Group Inc. owned 12.05% of Avery Dennison worth $1,811,738,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AVY. Larson Financial Group LLC grew its holdings in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares during the period. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison during the fourth quarter valued at about $37,000. Spire Wealth Management increased its stake in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 130 shares during the last quarter. Brooklyn Investment Group bought a new stake in Avery Dennison in the third quarter worth $66,000. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of Avery Dennison in the 4th quarter worth about $68,000. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Price Performance

Shares of AVY stock opened at $178.04 on Thursday. The company’s 50-day simple moving average is $183.85 and its two-hundred day simple moving average is $197.18. 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 $173.02 and a one year high of $233.48. The company has a market capitalization of $14.06 billion, a P/E ratio of 20.42, a P/E/G ratio of 2.07 and a beta of 0.85.

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 return on equity of 33.06% and a net margin of 8.05%. As a group, equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.98%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVY. Raymond James reiterated an “outperform” rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Citigroup dropped their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. 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. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research note on Friday, January 31st. Finally, UBS Group reduced their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.84% of the company’s stock.

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.