Proficio Capital Partners LLC Invests $12.73 Million in Avery Dennison Co. (NYSE:AVY)

Proficio Capital Partners LLC bought a new position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 68,029 shares of the industrial products company's stock, valued at approximately $12,730,000. Proficio Capital Partners LLC owned approximately 0.08% of Avery Dennison as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB boosted its position in Avery Dennison by 485.2% during the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company's stock worth $6,715,000 after purchasing an additional 29,541 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock worth $312,772,000 after acquiring an additional 90,250 shares during the last quarter. Icon Wealth Advisors LLC raised its holdings in shares of Avery Dennison by 553.5% in the third quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company's stock worth $693,000 after acquiring an additional 2,657 shares during the last quarter. Meyer Handelman Co. acquired a new position in shares of Avery Dennison in the fourth quarter worth $4,263,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company's stock worth $92,771,000 after acquiring an additional 46,390 shares during the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of research firms have recently weighed in on AVY. UBS Group cut their price target on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Raymond James reissued an "outperform" rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Robert W. Baird set a $220.00 price target on Avery Dennison in a report on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 target price on Avery Dennison in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Avery Dennison has a consensus rating of "Moderate Buy" and a consensus target price of $222.51.

Avery Dennison Trading Up 0.9 %

AVY stock traded up $1.71 on Wednesday, hitting $183.04. 1,055,993 shares of the company were exchanged, compared to its average volume of 728,993. Avery Dennison Co. has a twelve month low of $178.72 and a twelve month 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. The business's fifty day moving average is $186.34 and its two-hundred day moving average is $201.23. The stock has a market capitalization of $14.46 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89.

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 return on equity of 33.06% and a net margin of 8.05%. As a group, research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison's payout ratio is currently 40.37%.

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.