Avery Dennison Co. (NYSE:AVY) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 411.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,360 shares of the industrial products company's stock after buying an additional 99,232 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.15% of Avery Dennison worth $23,084,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVY. Larson Financial Group LLC raised its position in Avery Dennison by 100.0% during the third 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 during the period. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison during the third quarter worth about $36,000. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison during the 4th quarter worth about $37,000. Peterson Financial Group Inc. purchased a new position in Avery Dennison in the 3rd quarter valued at about $39,000. Finally, Spire Wealth Management boosted its holdings in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of AVY stock opened at $180.23 on Wednesday. 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 company has a market capitalization of $14.24 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The firm's 50-day moving average is $185.97 and its two-hundred day moving average is $200.24. Avery Dennison Co. has a 12 month low of $178.72 and a 12 month high of $233.48.

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Avery Dennison (NYSE:AVY - Get Free Report) last released 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%. Analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison's dividend payout ratio is presently 40.37%.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the transaction, the chairman now owns 316,300 shares of the company's stock, valued at $58,891,897. This trade represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

AVY has been the subject of a number of research analyst reports. Robert W. Baird set a $220.00 target price on Avery Dennison in a report on Friday, January 31st. Citigroup decreased their price objective on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Bank of America dropped their target price on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. Raymond James reiterated an "outperform" rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Avery Dennison currently has a consensus rating of "Moderate Buy" and an average price target of $222.51.

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.

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