US Bancorp DE Reduces Stock Holdings in Avery Dennison Co. (NYSE:AVY)

US Bancorp DE lowered its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,693 shares of the industrial products company's stock after selling 5,976 shares during the quarter. US Bancorp DE's holdings in Avery Dennison were worth $6,305,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Empirical Finance LLC boosted its stake in Avery Dennison by 2.0% in the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company's stock worth $623,000 after purchasing an additional 55 shares in the last quarter. Greenleaf Trust raised its position in shares of Avery Dennison by 4.4% during the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company's stock worth $253,000 after acquiring an additional 57 shares during the last quarter. AdvisorNet Financial Inc raised its position in shares of Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after acquiring an additional 58 shares during the last quarter. Lindenwold Advisors INC raised its position in shares of Avery Dennison by 0.6% during the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company's stock worth $2,266,000 after acquiring an additional 59 shares during the last quarter. Finally, Cynosure Group LLC raised its position in shares of Avery Dennison by 3.6% during the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company's stock worth $378,000 after acquiring an additional 59 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

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Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the sale, the chairman now owns 316,300 shares in the company, valued at $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company's stock.

Avery Dennison Trading Up 0.8 %

NYSE:AVY traded up $1.54 on Friday, reaching $183.94. The company's stock had a trading volume of 1,195,522 shares, compared to its average volume of 753,032. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a market cap of $14.53 billion, a PE ratio of 21.09, a PEG ratio of 2.07 and a beta of 0.85. The business's 50-day moving average price is $186.11 and its two-hundred day moving average price is $200.90. Avery Dennison Co. has a 1-year low of $178.72 and a 1-year high of $233.48.

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 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%. Equities research 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 declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors 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 annualized dividend and a yield of 1.91%. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AVY shares. Truist Financial reiterated a "buy" rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Raymond James reiterated an "outperform" rating and issued a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Barclays dropped their price objective on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Citigroup dropped their price objective on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $210.00 to $205.00 in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison presently has a consensus rating of "Moderate Buy" and an average 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.