Choreo LLC lifted its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 50.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,195 shares of the industrial products company's stock after buying an additional 4,077 shares during the period. Choreo LLC's holdings in Avery Dennison were worth $2,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company's stock valued at $459,621,000 after purchasing an additional 157,754 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock valued at $312,772,000 after purchasing an additional 90,250 shares during the last quarter. World Investment Advisors LLC increased its holdings in Avery Dennison by 2,629.0% in the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company's stock valued at $20,278,000 after purchasing an additional 88,491 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Avery Dennison by 12.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company's stock valued at $92,771,000 after purchasing an additional 46,390 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Avery Dennison by 72.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 96,889 shares of the industrial products company's stock valued at $21,389,000 after purchasing an additional 40,824 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.
Wall Street Analyst Weigh In
AVY has been the subject of several research reports. Raymond James restated an "outperform" rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets dropped their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Truist Financial restated a "buy" rating and issued a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. UBS Group dropped their price target on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Finally, StockNews.com downgraded shares of Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $227.15.
Check Out Our Latest Analysis on Avery Dennison
Insider Activity
In related news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now directly owns 7,126 shares of the company's stock, valued at $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.10% of the company's stock.
Avery Dennison Stock Performance
NYSE AVY traded up $2.56 during trading hours on Monday, hitting $181.71. The company had a trading volume of 277,281 shares, compared to its average volume of 773,942. 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 1-year low of $178.72 and a 1-year high of $233.48. The company has a market cap of $14.60 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89. The business has a 50 day moving average of $190.86 and a 200-day moving average of $204.52.
Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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%. As a group, equities research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.
Avery Dennison Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.94%. Avery Dennison's payout ratio is 40.37%.
Avery Dennison Profile
(
Free Report)
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.
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