Zions Bancorporation N.A. Acquires 1,701 Shares of Avery Dennison Co. (NYSE:AVY)

Zions Bancorporation N.A. grew its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 51.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,984 shares of the industrial products company's stock after buying an additional 1,701 shares during the quarter. Zions Bancorporation N.A.'s holdings in Avery Dennison were worth $933,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AVY. Larson Financial Group LLC boosted its stake in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock worth $31,000 after purchasing an additional 71 shares during the period. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison during the fourth quarter worth about $37,000. Spire Wealth Management grew its holdings in shares of Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after buying an additional 130 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Avery Dennison in the 3rd quarter valued at approximately $66,000. Finally, VisionPoint Advisory Group LLC bought a new stake in Avery Dennison in the 4th quarter valued at approximately $68,000. Institutional investors own 94.17% of the company's stock.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the business's stock in a transaction 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 completion of the sale, the chairman now directly owns 316,300 shares in the company, valued at $58,891,897. The trade was a 2.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.84% of the stock is owned by company insiders.

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Avery Dennison Stock Performance

Shares of AVY stock traded up $2.28 during trading on Monday, reaching $178.05. 716,426 shares of the company's stock were exchanged, compared to its average volume of 542,225. Avery Dennison Co. has a twelve month low of $173.02 and a twelve month high of $233.48. The firm's fifty day moving average price is $183.02 and its 200-day moving average price is $196.14. 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 stock has a market capitalization of $14.06 billion, a PE ratio of 20.42, 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 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, sell-side analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.98%. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AVY. JPMorgan Chase & Co. raised shares of 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. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research report on Monday, February 3rd. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research report on Friday, January 31st. Bank of America decreased their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Truist Financial reiterated a "buy" rating and set a $215.00 target price (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 stock. Based on data from MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and an average price target of $222.51.

About Avery Dennison

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.