Skandinaviska Enskilda Banken AB publ Sells 1,400 Shares of Avery Dennison Co. (NYSE:AVY)

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,961 shares of the industrial products company's stock after selling 1,400 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Avery Dennison were worth $4,299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVY. Apollon Wealth Management LLC lifted its holdings in shares of Avery Dennison by 7.2% in the third quarter. Apollon Wealth Management LLC now owns 1,233 shares of the industrial products company's stock valued at $272,000 after buying an additional 83 shares during the period. Huntington National Bank grew its stake in shares of Avery Dennison by 3.1% in the 3rd quarter. Huntington National Bank now owns 3,331 shares of the industrial products company's stock worth $735,000 after purchasing an additional 99 shares during the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Avery Dennison by 76.2% in the 3rd quarter. Zions Bancorporation N.A. now owns 3,283 shares of the industrial products company's stock worth $725,000 after purchasing an additional 1,420 shares in the last quarter. Metis Global Partners LLC lifted its stake in Avery Dennison by 21.6% during the third quarter. Metis Global Partners LLC now owns 7,311 shares of the industrial products company's stock valued at $1,614,000 after purchasing an additional 1,297 shares during the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in Avery Dennison in the third quarter worth approximately $207,000. Institutional investors own 94.17% of the company's stock.

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Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was 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 approximately $58,891,897. The trade was a 2.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AVY. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research note on Friday, January 31st. Citigroup decreased their price objective on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Truist Financial restated a "buy" rating and set a $215.00 price target (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, Bank of America cut their target price on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $222.51.

Avery Dennison Stock Down 0.5 %

Shares of Avery Dennison stock traded down $0.88 during midday trading on Wednesday, reaching $179.05. 548,778 shares of the company's stock traded hands, compared to its average volume of 506,459. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a 52 week low of $174.91 and a 52 week high of $233.48. The company's 50 day simple moving average is $185.19 and its 200 day simple moving average is $198.81. The company has a market cap of $14.14 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings results 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 return on equity of 33.06% and a net margin of 8.05%. Equities analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison's dividend payout ratio 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.