68,029 Shares in Avery Dennison Co. (NYSE:AVY) Bought by Proficio Capital Partners LLC

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

A number of other large investors have also made changes to their positions in the stock. Assetmark Inc. raised its stake in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after purchasing an additional 73 shares during the period. Keybank National Association OH raised its position in shares of Avery Dennison by 26.0% during the 4th quarter. Keybank National Association OH now owns 2,367 shares of the industrial products company's stock valued at $443,000 after buying an additional 488 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Avery Dennison in the fourth quarter valued at approximately $386,000. Bahl & Gaynor Inc. lifted its holdings in Avery Dennison by 19.7% in the fourth quarter. Bahl & Gaynor Inc. now owns 339,349 shares of the industrial products company's stock valued at $63,502,000 after acquiring an additional 55,810 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Avery Dennison by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company's stock worth $130,821,000 after acquiring an additional 10,674 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company'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 of the company's stock, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Avery Dennison Stock Down 0.5 %

NYSE AVY traded down $0.88 on Wednesday, hitting $179.05. 338,052 shares of the stock were exchanged, compared to its average volume of 506,459. Avery Dennison Co. has a fifty-two week low of $174.91 and a fifty-two week high of $233.48. The company has a 50-day moving average price of $185.19 and a 200-day moving average price of $198.81. 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 company has a market cap of $14.14 billion, a PE ratio of 20.53, a PEG ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data 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%. Sell-side analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.97%. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVY. Barclays dropped their price target on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. UBS Group dropped 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. JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Truist Financial reaffirmed a "buy" rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, Citigroup lowered their target price on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Three 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.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $222.51.

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.