Running Oak Capital LLC Grows Position in Avery Dennison Co. (NYSE:AVY)

Running Oak Capital LLC grew its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,830 shares of the industrial products company's stock after purchasing an additional 7,572 shares during the quarter. Running Oak Capital LLC owned approximately 0.08% of Avery Dennison worth $11,945,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of Avery Dennison in the 3rd quarter worth approximately $36,000. Peterson Financial Group Inc. bought a new position in shares of Avery Dennison during the 3rd quarter worth approximately $39,000. Raleigh Capital Management Inc. lifted its position in Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 238 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Avery Dennison in the third quarter valued at approximately $66,000. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Performance

NYSE:AVY traded down $2.03 during mid-day trading on Friday, hitting $191.33. The company's stock had a trading volume of 682,027 shares, compared to its average volume of 486,609. The business's fifty day moving average is $194.09 and its two-hundred day moving average is $207.02. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.36 and a beta of 0.89. Avery Dennison Co. has a 1 year low of $181.99 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company earned $2.10 earnings per share. Avery Dennison's revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on AVY shares. JPMorgan Chase & Co. lowered Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Truist Financial lowered their price target on Avery Dennison from $258.00 to $245.00 and set a "buy" rating for the company in a report on Monday, January 6th. Bank of America cut their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, January 6th. UBS Group lowered their target price on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Finally, BMO Capital Markets cut their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison currently has an average rating of "Moderate Buy" and a consensus target price of $235.05.

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.