Aviva PLC Has $9.09 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Aviva PLC increased its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 1,469.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,564 shares of the industrial products company's stock after acquiring an additional 45,470 shares during the quarter. Aviva PLC owned about 0.06% of Avery Dennison worth $9,088,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in shares of Avery Dennison by 3.4% in the 3rd quarter. Janus Henderson Group PLC now owns 9,133 shares of the industrial products company's stock valued at $2,016,000 after purchasing an additional 300 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in Avery Dennison in the third quarter valued at approximately $451,000. EP Wealth Advisors LLC grew its holdings in Avery Dennison by 286.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 4,381 shares of the industrial products company's stock worth $967,000 after acquiring an additional 3,247 shares during the period. iA Global Asset Management Inc. raised its position in shares of Avery Dennison by 405.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 2,829 shares of the industrial products company's stock valued at $625,000 after acquiring an additional 2,269 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of Avery Dennison by 73.9% in the 3rd quarter. XTX Topco Ltd now owns 3,385 shares of the industrial products company's stock valued at $747,000 after purchasing an additional 1,438 shares during the period. Institutional investors own 94.17% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AVY shares. JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $210.00 to $205.00 in a report on Friday, January 31st. UBS Group lowered their price target on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. Truist Financial reiterated a "buy" rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, Citigroup decreased their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $220.87.

Insider Buying and Selling at Avery Dennison

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

Avery Dennison Stock Performance

AVY stock traded up $1.74 during mid-day trading on Monday, hitting $171.42. 118,659 shares of the company were exchanged, compared to its average volume of 576,544. Avery Dennison Co. has a 1-year low of $157.00 and a 1-year high of $233.48. The business has a 50 day simple moving average of $178.64 and a 200-day simple moving average of $192.62. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $13.54 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

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%. On average, equities analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.05%. Avery Dennison's dividend payout ratio (DPR) is 40.37%.

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.