Comgest Global Investors S.A.S. Sells 3,409 Shares of Avery Dennison Co. (NYSE:AVY)

Comgest Global Investors S.A.S. decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,296 shares of the industrial products company's stock after selling 3,409 shares during the quarter. Avery Dennison accounts for approximately 0.7% of Comgest Global Investors S.A.S.'s portfolio, making the stock its 24th largest position. Comgest Global Investors S.A.S. owned about 0.29% of Avery Dennison worth $44,218,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MML Investors Services LLC boosted its stake in Avery Dennison by 20.6% in the third quarter. MML Investors Services LLC now owns 10,752 shares of the industrial products company's stock worth $2,374,000 after buying an additional 1,837 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Avery Dennison in the 3rd quarter valued at $381,000. Anchor Investment Management LLC grew its holdings in shares of Avery Dennison by 256.3% during the 3rd quarter. Anchor Investment Management LLC now owns 766 shares of the industrial products company's stock valued at $169,000 after purchasing an additional 551 shares during the last quarter. World Investment Advisors LLC raised its position in Avery Dennison by 17.4% in the 3rd quarter. World Investment Advisors LLC now owns 3,953 shares of the industrial products company's stock worth $873,000 after purchasing an additional 587 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its stake in Avery Dennison by 384.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 6,203 shares of the industrial products company's stock worth $1,369,000 after purchasing an additional 4,923 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Price Performance

Shares of NYSE:AVY traded up $2.83 during trading on Friday, hitting $170.98. 625,563 shares of the company's stock were exchanged, compared to its average volume of 584,959. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.07 and a beta of 0.85. The business's 50-day simple moving average is $177.54 and its 200 day simple moving average is $191.27. Avery Dennison Co. has a 52-week low of $157.00 and a 52-week high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY - Get Free Report) last issued 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 return on equity of 33.06% and a net margin of 8.05%. As a group, equities analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is 40.37%.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following 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 document filed with the SEC, which is accessible through this hyperlink. 0.84% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AVY has been the subject of several analyst reports. Citigroup dropped their target price on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a report on Monday, January 6th. UBS Group decreased their target price on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Truist Financial reissued a "buy" rating and set a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Bank of America dropped their target price on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Raymond James reiterated an "outperform" rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $220.87.

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.