Geode Capital Management LLC Purchases 13,815 Shares of Avery Dennison Co. (NYSE:AVY)

Geode Capital Management LLC raised its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,102,331 shares of the industrial products company's stock after acquiring an additional 13,815 shares during the period. Geode Capital Management LLC owned approximately 2.62% of Avery Dennison worth $392,445,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Regents Gate Capital LLP bought a new stake in Avery Dennison during the fourth quarter worth about $37,000. Spire Wealth Management boosted its position in shares of 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 in the last quarter. VisionPoint Advisory Group LLC bought a new position in Avery Dennison in the fourth quarter valued at approximately $68,000. AdvisorNet Financial Inc raised its position in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 58 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after purchasing an additional 73 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business's stock in a transaction dated 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 transaction, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company's stock.

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Analyst Ratings Changes

A number of research firms have recently commented on AVY. Robert W. Baird set a $220.00 price target on Avery Dennison in a report on Friday, January 31st. Truist Financial reissued 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. UBS Group lowered their price target on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a report on Monday. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Finally, Barclays cut their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Three investment 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 has an average rating of "Moderate Buy" and an average target price of $220.87.

Avery Dennison Stock Performance

Avery Dennison stock traded down $5.91 during midday trading on Thursday, reaching $162.95. The stock had a trading volume of 423,677 shares, compared to its average volume of 776,098. The firm has a market capitalization of $12.87 billion, a PE ratio of 18.75, a P/E/G ratio of 2.07 and a beta of 0.85. 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's 50-day moving average price is $179.24 and its 200 day moving average price is $193.53. Avery Dennison Co. has a 12 month low of $157.00 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data 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%. As a group, research analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 2.16%. Avery Dennison's dividend payout ratio (DPR) 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.