Swedbank AB Reduces Holdings in Avery Dennison Co. (NYSE:AVY)

Swedbank AB cut its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,432 shares of the industrial products company's stock after selling 2,527 shares during the quarter. Swedbank AB owned 0.38% of Avery Dennison worth $56,968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC increased its stake 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 purchasing an additional 71 shares during the period. Kennebec Savings Bank acquired a new stake in Avery Dennison during the 3rd quarter worth approximately $36,000. Peterson Financial Group Inc. purchased a new position in Avery Dennison in the 3rd quarter valued at approximately $39,000. Raleigh Capital Management Inc. grew its stake in shares of Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock worth $56,000 after acquiring an additional 238 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Avery Dennison during the third quarter worth $66,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Insiders Place Their Bets

In related news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup lowered their target price on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Bank of America reduced their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Truist Financial cut their price target on Avery Dennison from $258.00 to $245.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Barclays lowered their price objective on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Finally, StockNews.com cut Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $235.05.

Avery Dennison Stock Performance

NYSE AVY traded down $10.42 during trading hours on Thursday, hitting $182.50. 1,077,224 shares of the stock were exchanged, compared to its average volume of 673,688. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average of $193.87 and a 200 day moving average of $206.51. Avery Dennison Co. has a 12-month low of $179.20 and a 12-month high of $233.48. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. As a group, equities research analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current year.

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.