Bridgewater Associates LP Decreases Holdings in Avery Dennison Co. (NYSE:AVY)

Bridgewater Associates LP reduced its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 79.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,425 shares of the industrial products company's stock after selling 13,013 shares during the quarter. Bridgewater Associates LP's holdings in Avery Dennison were worth $641,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Avery Dennison in the third quarter valued at approximately $381,000. Anchor Investment Management LLC grew its position in shares of Avery Dennison by 256.3% in the third quarter. Anchor Investment Management LLC now owns 766 shares of the industrial products company's stock valued at $169,000 after purchasing an additional 551 shares during the period. World Investment Advisors LLC raised its position in shares of Avery Dennison by 17.4% during the 3rd quarter. World Investment Advisors LLC now owns 3,953 shares of the industrial products company's stock worth $873,000 after purchasing an additional 587 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Avery Dennison by 384.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 6,203 shares of the industrial products company's stock worth $1,369,000 after buying an additional 4,923 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Avery Dennison by 13.7% during the third quarter. Tidal Investments LLC now owns 5,957 shares of the industrial products company's stock valued at $1,315,000 after acquiring an additional 716 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Trading Up 2.0 %

Shares of AVY stock traded up $3.37 during trading hours on Thursday, hitting $173.62. The company had a trading volume of 1,051,754 shares, compared to its average volume of 594,004. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The stock has a market capitalization of $13.63 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company's fifty day moving average is $176.92 and its 200 day moving average is $190.38. Avery Dennison Co. has a fifty-two week low of $157.00 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company 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 2.03%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison's dividend payout ratio is currently 40.37%.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction dated 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 sale, the chairman now owns 303,331 shares of the company's stock, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.84% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on AVY shares. Jefferies Financial Group started coverage on Avery Dennison in a research report on Tuesday. They set a "hold" rating and a $175.00 price target for the company. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $205.00 to $172.00 in a research report on Thursday. Robert W. Baird lowered their target price on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a report on Thursday. Bank of America cut their price target on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Truist Financial lowered their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Tuesday. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $210.63.

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.