Avanza Fonder AB Buys Shares of 6,406 Avery Dennison Co. (NYSE:AVY)

Avanza Fonder AB bought a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,406 shares of the industrial products company's stock, valued at approximately $1,199,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AVY. Larson Financial Group LLC raised its position in shares of Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock worth $31,000 after acquiring an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of Avery Dennison during the 3rd quarter worth approximately $36,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison during the 3rd quarter worth approximately $39,000. Raleigh Capital Management Inc. increased its stake in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 238 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in Avery Dennison during the third quarter worth $66,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Analysts Set New Price Targets

AVY has been the topic of several research reports. UBS Group dropped their price objective 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. StockNews.com downgraded Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. Barclays cut their price target on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Truist Financial lowered their target price on Avery Dennison from $258.00 to $245.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, BMO Capital Markets reduced their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Avery Dennison presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.05.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company's stock, valued at $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company's stock.

Avery Dennison Stock Performance

Shares of NYSE AVY traded down $0.17 during midday trading on Monday, reaching $191.07. The company's stock had a trading volume of 623,810 shares, compared to its average volume of 501,975. The stock has a market capitalization of $15.35 billion, a P/E ratio of 22.94, a PEG ratio of 1.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The firm has a 50 day moving average price of $195.08 and a 200-day moving average price of $207.79. Avery Dennison Co. has a 12-month low of $181.99 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 EPS. As a group, equities analysts predict that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison's payout ratio is 42.26%.

Avery Dennison 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.