Callan Family Office LLC Invests $383,000 in Avery Dennison Co. (NYSE:AVY)

Callan Family Office LLC purchased a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,049 shares of the industrial products company's stock, valued at approximately $383,000.

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

Avery Dennison Stock Up 1.7 %

Shares of NYSE:AVY traded up $3.02 during trading on Friday, hitting $178.91. The stock had a trading volume of 420,100 shares, compared to its average volume of 506,248. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 12 month low of $174.91 and a 12 month high of $233.48. The company has a market capitalization of $14.13 billion, a PE ratio of 20.52, a PEG ratio of 2.07 and a beta of 0.85. The firm's fifty day moving average is $185.62 and its 200 day moving average is $199.91.

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Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data 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 anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. 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%.

Analyst Ratings Changes

Several brokerages have weighed in on AVY. UBS Group lowered their price objective on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Truist Financial reiterated 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. Raymond James reissued an "outperform" rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Barclays lowered their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, Bank of America cut their target price on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research note 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. According to data from MarketBeat, Avery Dennison presently has an average rating of "Moderate Buy" and a consensus target price of $222.51.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,068 shares of Avery Dennison stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value 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. 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 available through the SEC website. Company insiders own 1.10% of the company's stock.

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.