Avery Dennison Co. (NYSE:AVY) Shares Sold by Mizuho Bank Ltd.

Mizuho Bank Ltd. lowered its stake in Avery Dennison Co. (NYSE:AVY) by 48.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180 shares of the industrial products company’s stock after selling 170 shares during the quarter. Mizuho Bank Ltd.’s holdings in Avery Dennison were worth $34,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Nordea Investment Management AB increased its stake in shares of Avery Dennison by 485.2% during the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock valued at $6,715,000 after acquiring an additional 29,541 shares during the period. Meyer Handelman Co. acquired a new position in shares of Avery Dennison during the 4th quarter valued at $4,263,000. JPMorgan Chase & Co. lifted its holdings in shares of Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after buying an additional 46,390 shares during the period. Unigestion Holding SA acquired a new position in Avery Dennison during the third quarter worth about $6,701,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Avery Dennison in the fourth quarter worth about $218,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,068 shares of Avery Dennison stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the sale, the chairman now owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. The trade was a 2.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.84% of the stock is currently owned by company insiders.

Avery Dennison Trading Down 3.4 %

Shares of NYSE:AVY opened at $170.30 on Friday. Avery Dennison Co. has a 12-month low of $168.77 and a 12-month high of $233.48. 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 $13.45 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The firm has a fifty day moving average of $181.82 and a two-hundred day moving average of $195.27.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS 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 expect that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

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

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of research reports. UBS Group dropped their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Citigroup decreased their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Truist Financial reaffirmed a “buy” rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, Barclays dropped their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus price target of $222.51.

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.