Avery Dennison Co. (NYSE:AVY) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Avery Dennison Co. (NYSE:AVY) by 0.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,102,331 shares of the industrial products company’s stock after purchasing an additional 13,815 shares during the quarter. Geode Capital Management LLC owned 2.62% of Avery Dennison worth $392,445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AVY. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison in the fourth quarter worth about $37,000. Spire Wealth Management boosted 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 purchasing an additional 130 shares during the period. AdvisorNet Financial Inc grew its position in Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 58 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison during the 4th quarter valued at $68,000. Finally, Assetmark Inc. grew its holdings in shares of Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock valued at $74,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on AVY shares. Truist Financial reaffirmed a “buy” rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Robert W. Baird set a $220.00 price objective on Avery Dennison in a research report on Friday, January 31st. UBS Group reduced their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Citigroup lowered their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, BMO Capital Markets set a $226.00 price target on Avery Dennison in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Stock Down 3.4 %

Shares of AVY stock opened at $170.30 on Friday. The stock has a 50 day moving average of $181.82 and a 200-day moving average of $195.27. The firm has a market cap of $13.45 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 12 month low of $168.77 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.88 per share. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 2.07%. Avery Dennison’s dividend payout ratio is 40.37%.

Avery Dennison Company 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.