Canada Pension Plan Investment Board Trims Stake in Avery Dennison Co. (NYSE:AVY)

Canada Pension Plan Investment Board lowered its stake in shares of Avery Dennison Co. (NYSE:AVYFree Report) by 2.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,731 shares of the industrial products company’s stock after selling 2,204 shares during the period. Canada Pension Plan Investment Board owned 0.13% of Avery Dennison worth $18,583,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Avery Dennison in the 3rd quarter valued at $32,000. HighTower Advisors LLC raised its holdings in shares of Avery Dennison by 4.7% in the 3rd quarter. HighTower Advisors LLC now owns 15,300 shares of the industrial products company’s stock valued at $2,788,000 after buying an additional 686 shares during the period. Pathstone Family Office LLC raised its holdings in shares of Avery Dennison by 51.7% in the 3rd quarter. Pathstone Family Office LLC now owns 6,434 shares of the industrial products company’s stock valued at $1,175,000 after buying an additional 2,194 shares during the period. 9258 Wealth Management LLC purchased a new stake in shares of Avery Dennison in the 3rd quarter valued at $209,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Avery Dennison by 13.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,624 shares of the industrial products company’s stock valued at $1,027,000 after buying an additional 668 shares during the period. Institutional investors and hedge funds own 91.09% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AVY shares. Truist Financial reiterated a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. JPMorgan Chase & Co. boosted their price objective on Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. UBS Group boosted their price objective on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Bank of America downgraded Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective on the stock. in a report on Tuesday, January 2nd. Finally, Citigroup downgraded Avery Dennison from a “buy” rating to a “neutral” rating and upped their price target for the stock from $197.00 to $214.00 in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.78.

Get Our Latest Report on AVY

Avery Dennison Trading Up 0.9 %

NYSE:AVY opened at $204.77 on Monday. The stock has a 50-day simple moving average of $198.55 and a 200-day simple moving average of $188.28. The stock has a market cap of $16.49 billion, a P/E ratio of 32.97, a P/E/G ratio of 3.13 and a beta of 0.90. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $205.15. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04.

Avery Dennison (NYSE:AVYGet Free Report) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 EPS. As a group, analysts anticipate that Avery Dennison Co. will post 9.33 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be given a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.58%. Avery Dennison’s dividend payout ratio (DPR) is presently 52.17%.

Insider Activity at Avery Dennison

In related news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now directly owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Avery Dennison Profile

(Free Report)

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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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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