Richelieu Gestion SA lifted its stake in shares of Avery Dennison Co. (NYSE:AVY – Free Report) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,513 shares of the industrial products company’s stock after buying an additional 161 shares during the quarter. Richelieu Gestion SA’s holdings in Avery Dennison were worth $1,463,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. SouthState Corp raised its position in Avery Dennison by 130.0% in the 1st quarter. SouthState Corp now owns 138 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Clear Street Markets LLC raised its position in Avery Dennison by 92.7% during the 1st quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock worth $28,000 after buying an additional 76 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in Avery Dennison during the 4th quarter worth $30,000. Eagle Bay Advisors LLC purchased a new position in Avery Dennison during the 2nd quarter worth $33,000. Finally, Milestone Investment Advisors LLC purchased a new position in Avery Dennison during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 91.09% of the company’s stock.
Analysts Set New Price Targets
AVY has been the subject of a number of analyst reports. Bank of America cut their price objective on shares of Avery Dennison from $207.00 to $189.00 in a research report on Monday, July 10th. Citigroup upped their price target on shares of Avery Dennison from $200.00 to $205.00 in a research note on Wednesday, July 26th. StockNews.com started coverage on shares of Avery Dennison in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Truist Financial reaffirmed a “buy” rating and set a $215.00 price target on shares of Avery Dennison in a research note on Friday. Finally, Loop Capital lowered their price target on shares of Avery Dennison from $208.00 to $201.00 in a research note on Thursday, June 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.00.
Insider Buying and Selling at Avery Dennison
In other Avery Dennison news, Director Julia A. Stewart sold 5,633 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $186.14, for a total value of $1,048,526.62. Following the transaction, the director now directly owns 10,329 shares in the company, valued at approximately $1,922,640.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Ignacio J. Walker sold 403 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $180.33, for a total transaction of $72,672.99. Following the transaction, the senior vice president now directly owns 11,102 shares in the company, valued at approximately $2,002,023.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Julia A. Stewart sold 5,633 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $186.14, for a total transaction of $1,048,526.62. Following the transaction, the director now owns 10,329 shares in the company, valued at $1,922,640.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,836 shares of company stock worth $2,014,000. Corporate insiders own 1.10% of the company’s stock.
Avery Dennison Price Performance
NYSE AVY traded up $1.41 during trading hours on Monday, reaching $181.97. The company’s stock had a trading volume of 140,311 shares, compared to its average volume of 530,850. The stock has a market cap of $14.66 billion, a PE ratio of 26.13, a PEG ratio of 3.25 and a beta of 0.96. Avery Dennison Co. has a fifty-two week low of $157.28 and a fifty-two week high of $195.95. The company’s 50-day moving average is $181.79 and its two-hundred day moving average is $175.22. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 1.09.
Avery Dennison (NYSE:AVY – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.13). The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.17 billion. Avery Dennison had a net margin of 6.66% and a return on equity of 31.13%. Avery Dennison’s revenue was down 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.64 earnings per share. Analysts forecast that Avery Dennison Co. will post 8.04 EPS for the current year.
Avery Dennison Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $3.24 dividend on an annualized basis and a yield of 1.78%. Avery Dennison’s dividend payout ratio (DPR) is 46.69%.
Avery Dennison Company Profile
Avery Dennison Corporation operates as materials science and digital identification solutions company. It provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and various converted products and solutions. The company designs and manufactures a range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance.
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