Forsta AP Fonden Lowers Stake in Avery Dennison Co. (NYSE:AVY)

Forsta AP Fonden lowered its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 13.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,800 shares of the industrial products company's stock after selling 2,800 shares during the period. Forsta AP Fonden's holdings in Avery Dennison were worth $3,331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC grew its holdings in Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock worth $31,000 after acquiring an additional 71 shares during the period. Kennebec Savings Bank bought a new stake in shares of Avery Dennison in the third quarter worth $36,000. Peterson Financial Group Inc. bought a new position in shares of Avery Dennison in the 3rd quarter valued at about $39,000. Raleigh Capital Management Inc. raised its stake in shares of Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock worth $56,000 after purchasing an additional 238 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Avery Dennison in the 3rd quarter valued at about $66,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

AVY has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their price objective for the company from $210.00 to $205.00 in a report on Friday, January 31st. Citigroup reduced their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. UBS Group dropped 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. Bank of America lowered their price target 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, Truist Financial restated a "buy" rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $227.15.

Avery Dennison Stock Up 1.0 %

Shares of NYSE:AVY traded up $1.92 during midday trading on Wednesday, reaching $184.54. The company's stock had a trading volume of 940,847 shares, compared to its average volume of 796,372. Avery Dennison Co. has a 12-month low of $179.20 and a 12-month high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $14.83 billion, a P/E ratio of 21.16, a PEG ratio of 1.37 and a beta of 0.89. The firm has a 50 day moving average of $192.28 and a 200-day moving average of $205.33.

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 (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%. On average, research analysts anticipate that Avery Dennison Co. will post 10.03 earnings per share for the current 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 $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.91%. Avery Dennison's payout ratio is 40.37%.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value 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 trade represents a 34.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.