8,695 Shares in Avery Dennison Co. (NYSE:AVY) Bought by AGP Franklin LLC

AGP Franklin LLC bought a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,695 shares of the industrial products company's stock, valued at approximately $1,627,000.

Several other large investors have also modified their holdings of AVY. Vanguard Group Inc. increased its holdings in Avery Dennison by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock valued at $1,811,738,000 after buying an additional 33,149 shares during the period. Geode Capital Management LLC boosted its position in Avery Dennison by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company's stock valued at $392,445,000 after acquiring an additional 13,815 shares in the last quarter. Norges Bank purchased a new position in shares of Avery Dennison in the 4th quarter valued at $188,643,000. Boston Partners raised its position in shares of Avery Dennison by 7.7% in the 4th quarter. Boston Partners now owns 926,506 shares of the industrial products company's stock worth $173,385,000 after acquiring an additional 66,216 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Avery Dennison by 16.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 812,191 shares of the industrial products company's stock worth $151,985,000 after purchasing an additional 112,650 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Wall Street Analysts Forecast Growth

AVY has been the topic of several analyst reports. Bank of America cut their target price on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Raymond James reiterated an "outperform" rating and set a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Citigroup lowered their target price on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, Truist Financial reiterated a "buy" rating and set a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $220.87.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the business's stock in a transaction on Thursday, March 6th. The shares were 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 $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.84% of the company's stock.

Avery Dennison Stock Performance

Shares of AVY stock traded up $2.83 during trading hours on Friday, hitting $170.98. The company's stock had a trading volume of 625,563 shares, compared to its average volume of 584,824. The stock has a market cap of $13.43 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 12-month low of $157.00 and a 12-month high of $233.48. The company has a 50 day moving average of $177.54 and a 200 day moving average of $191.09. 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 posted its quarterly earnings results 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 forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's payout ratio is presently 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.