Advisors Asset Management Inc. Grows Holdings in Avery Dennison Co. (NYSE:AVY)

Advisors Asset Management Inc. increased its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 12.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,460 shares of the industrial products company's stock after acquiring an additional 1,453 shares during the period. Advisors Asset Management Inc.'s holdings in Avery Dennison were worth $2,519,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock worth $31,000 after purchasing an additional 71 shares during the last quarter. Regents Gate Capital LLP bought a new position in Avery Dennison during the 4th quarter valued at $37,000. Spire Wealth Management boosted its holdings in Avery Dennison by 76.0% during 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 shares of Avery Dennison in the 3rd quarter worth $66,000. Finally, VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison in the fourth quarter valued at about $68,000. Institutional investors own 94.17% of the company's stock.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction on 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 sale, the chairman now owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. This trade 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 accessible through the SEC website. Company insiders own 0.84% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have commented on AVY shares. 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 research note on Friday, January 31st. Bank of America decreased their price target on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Raymond James reissued an "outperform" rating and issued a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research report on Monday, February 3rd. Finally, Barclays reduced their price target on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.51.

Avery Dennison Stock Performance

Shares of NYSE AVY traded up $2.35 during midday trading on Wednesday, hitting $178.04. The company's stock had a trading volume of 348,263 shares, compared to its average volume of 512,897. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 2.07 and a beta of 0.85. The stock has a fifty day moving average price of $184.10 and a 200 day moving average price of $197.31. Avery Dennison Co. has a one year low of $173.02 and a one year high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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, research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison's 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.