Fox Run Management L.L.C. Acquires New Position in Avery Dennison Co. (NYSE:AVY)

Fox Run Management L.L.C. purchased a new position in Avery Dennison Co. (NYSE:AVY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,347 shares of the industrial products company's stock, valued at approximately $439,000.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of 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. Boston Partners raised its holdings in shares of Avery Dennison by 7.7% in the fourth quarter. Boston Partners now owns 926,506 shares of the industrial products company's stock worth $173,385,000 after buying an additional 66,216 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Avery Dennison by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company's stock worth $143,078,000 after buying an additional 134,560 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Avery Dennison by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company's stock valued at $130,821,000 after buying an additional 10,674 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Avery Dennison by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company's stock valued at $136,338,000 after acquiring an additional 4,670 shares during the period. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock traded down $2.35 during trading hours on Friday, reaching $175.64. The stock had a trading volume of 350,687 shares, compared to its average volume of 541,528. Avery Dennison Co. has a twelve month low of $173.02 and a twelve month high of $233.48. 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 firm has a market capitalization of $13.87 billion, a PE ratio of 20.14, a PEG ratio of 2.07 and a beta of 0.85. The stock's 50 day moving average is $183.29 and its 200 day moving average is $196.58.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Equities analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.00%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's payout ratio is presently 40.37%.

Insider Buying and Selling at Avery Dennison

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial reiterated a "buy" rating and set a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Barclays dropped their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Raymond James reissued an "outperform" rating and set a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Bank of America dropped their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Three research 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $222.51.

Avery Dennison Company 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.