JPMorgan Chase & Co. Has $83.56 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

JPMorgan Chase & Co. raised its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 446,530 shares of the industrial products company's stock after buying an additional 26,298 shares during the quarter. JPMorgan Chase & Co. owned about 0.56% of Avery Dennison worth $83,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Avery Dennison by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock valued at $1,811,738,000 after purchasing an additional 33,149 shares during the period. Geode Capital Management LLC grew its holdings 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 buying an additional 157,754 shares during the period. Boston Partners increased its position in shares of Avery Dennison by 7.7% in the 4th quarter. Boston Partners now owns 926,506 shares of the industrial products company's stock valued at $173,385,000 after buying an additional 66,216 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company's stock valued at $143,078,000 after buying an additional 134,560 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Avery Dennison by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company's stock worth $130,821,000 after buying an additional 10,674 shares during the period. 94.17% of the stock is owned by institutional investors.

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Avery Dennison Stock Down 0.8 %

Shares of Avery Dennison stock traded down $1.29 during trading hours on Tuesday, reaching $164.99. 206,435 shares of the company's stock were exchanged, compared to its average volume of 556,215. 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 company has a 50 day moving average of $181.22 and a two-hundred day moving average of $194.64. The stock has a market cap of $13.03 billion, a P/E ratio of 19.04, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a fifty-two week low of $162.53 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results 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%. On average, sell-side analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.13%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is currently 40.37%.

Analyst Ratings Changes

Several equities research analysts have issued reports on AVY shares. Truist Financial restated a "buy" rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a report on Friday, January 31st. Raymond James reiterated an "outperform" rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup lowered their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Finally, UBS Group cut their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research report on Monday. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and an average target price of $220.87.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.84% of the company's stock.

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.