Bay Colony Advisory Group Inc d b a Bay Colony Advisors Buys New Stake in Avery Dennison Co. (NYSE:AVY)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Avery Dennison Co. (NYSE:AVY) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,091 shares of the industrial products company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AVY. Moneta Group Investment Advisors LLC lifted its holdings in Avery Dennison by 102,432.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,947,083 shares of the industrial products company’s stock worth $352,422,000 after buying an additional 1,945,184 shares in the last quarter. Cerity Partners LLC lifted its holdings in Avery Dennison by 4,159.9% in the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after buying an additional 1,163,264 shares in the last quarter. Norges Bank acquired a new position in Avery Dennison in the 4th quarter worth $153,787,000. Morgan Stanley lifted its holdings in Avery Dennison by 55.7% in the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after buying an additional 639,521 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Avery Dennison by 48.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,748,006 shares of the industrial products company’s stock worth $304,099,000 after buying an additional 566,938 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Activity

In other news, insider Ryan D. Yost sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the sale, the insider now owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock worth $4,217,705 over the last 90 days. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AVY shares. UBS Group boosted their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Bank of America downgraded shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price for the company. in a research report on Tuesday, January 2nd. Raymond James boosted their target price on shares of Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Finally, Truist Financial reaffirmed a “buy” rating and set a $249.00 price objective on shares of Avery Dennison in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and an average target price of $221.00.

Avery Dennison Stock Down 0.1 %

AVY stock opened at $211.11 on Wednesday. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $225.26. The firm has a market cap of $17.00 billion, a PE ratio of 34.00, a P/E/G ratio of 3.25 and a beta of 0.90. The firm has a 50 day simple moving average of $214.59 and a 200 day simple moving average of $198.92. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting the consensus estimate of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the business earned $1.65 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts forecast that Avery Dennison Co. will post 9.28 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.53%. Avery Dennison’s dividend payout ratio is currently 52.17%.

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.