Avery Dennison Co. (NYSE:AVY) Stock Position Lifted by XTX Topco Ltd

XTX Topco Ltd raised its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 64.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,557 shares of the industrial products company's stock after buying an additional 2,172 shares during the period. XTX Topco Ltd's holdings in Avery Dennison were worth $1,040,000 as of its most recent SEC filing.

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

Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

AVY has been the subject of several recent analyst reports. Bank of America reduced 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. BMO Capital Markets set a $226.00 price target on Avery Dennison in a research report on Monday, February 3rd. Raymond James reaffirmed an "outperform" rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a research report on Friday, January 31st. Finally, Truist Financial reiterated a "buy" rating and set a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Avery Dennison presently has an average rating of "Moderate Buy" and an average target price of $220.87.

Avery Dennison Stock Performance

Avery Dennison stock traded down $2.76 during mid-day trading on Monday, reaching $168.09. The company's stock had a trading volume of 76,285 shares, compared to its average volume of 582,843. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48. The business has a 50 day moving average price of $177.54 and a 200-day moving average price of $190.94. 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 announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Sell-side analysts predict that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is 40.37%.

About Avery Dennison

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.