Avery Dennison Co. (NYSE:AVY) Shares Purchased by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 126.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,582 shares of the industrial products company's stock after buying an additional 1,440 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Avery Dennison were worth $483,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AVY. Zions Bancorporation N.A. increased its position in Avery Dennison by 51.8% during the 4th quarter. Zions Bancorporation N.A. now owns 4,984 shares of the industrial products company's stock valued at $933,000 after purchasing an additional 1,701 shares during the period. TIAA Trust National Association boosted its stake in shares of Avery Dennison by 13.0% during the fourth quarter. TIAA Trust National Association now owns 2,580 shares of the industrial products company's stock valued at $483,000 after purchasing an additional 297 shares in the last quarter. Congress Wealth Management LLC DE increased its holdings in Avery Dennison by 0.9% during the fourth quarter. Congress Wealth Management LLC DE now owns 13,991 shares of the industrial products company's stock valued at $2,618,000 after buying an additional 125 shares during the period. Vanguard Group Inc. raised its stake in Avery Dennison by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock worth $1,811,738,000 after buying an additional 33,149 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in Avery Dennison by 1.9% during the fourth quarter. LPL Financial LLC now owns 61,490 shares of the industrial products company's stock worth $11,507,000 after buying an additional 1,148 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

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Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AVY shares. Robert W. Baird set a $220.00 price target on Avery Dennison in a research report on Friday, January 31st. UBS Group reduced their target price on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Barclays lowered their price target on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note on Monday, February 3rd. Finally, Citigroup lowered their target price on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison currently has an average rating of "Moderate Buy" and a consensus price target of $222.51.

Avery Dennison Stock Performance

Shares of Avery Dennison stock traded up $1.11 on Monday, reaching $176.88. 256,993 shares of the stock were exchanged, compared to its average volume of 540,478. The business has a 50 day moving average price of $183.29 and a two-hundred day moving average price of $196.43. The firm has a market capitalization of $13.97 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a twelve month low of $173.02 and a twelve 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.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data 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%. Analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal 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 paid a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.99%. Avery Dennison's payout ratio is 40.37%.

About Avery Dennison

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.