275,325 Shares in Avery Dennison Co. (NYSE:AVY) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 275,325 shares of the industrial products company's stock, valued at approximately $51,521,000. Raymond James Financial Inc. owned about 0.34% of Avery Dennison as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Avery Dennison by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock valued at $1,811,738,000 after acquiring an additional 33,149 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Avery Dennison by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company's stock valued at $392,445,000 after buying an additional 13,815 shares during the last quarter. Norges Bank bought a new stake in Avery Dennison in the 4th quarter worth about $188,643,000. Boston Partners lifted its stake in Avery Dennison by 7.7% during the 4th quarter. Boston Partners now owns 926,506 shares of the industrial products company's stock valued at $173,385,000 after acquiring an additional 66,216 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Avery Dennison by 16.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 812,191 shares of the industrial products company's stock valued at $151,985,000 after acquiring an additional 112,650 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on AVY. Bank of America lowered their target price on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Robert W. Baird set a $220.00 target price on Avery Dennison in a research report on Friday, January 31st. Raymond James reiterated an "outperform" rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research report on Monday, February 3rd. Finally, Truist Financial reiterated a "buy" rating and set a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $220.87.

Avery Dennison Stock Performance

NYSE:AVY traded up $2.83 during trading hours on Friday, reaching $170.98. The company had a trading volume of 625,563 shares, compared to its average volume of 584,824. The firm has a market cap of $13.43 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 1-year low of $157.00 and a 1-year high of $233.48. The business's 50 day moving average price is $177.54 and its 200-day moving average price is $190.94. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. Research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's payout ratio is 40.37%.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of Avery Dennison stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares of the company's stock, valued at $58,891,897. The trade was a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.