Zhang Financial LLC Acquires New Position in Avery Dennison Co. (NYSE:AVY)

Zhang Financial LLC acquired a new stake in shares of Avery Dennison Co. (NYSE:AVY) during the 4th quarter, Holdings Channel reports. The fund acquired 1,005 shares of the industrial products company’s stock, valued at approximately $203,000.

Several other institutional investors also recently bought and sold shares of AVY. Clear Street Markets LLC boosted its holdings in shares of Avery Dennison by 92.7% during the 1st quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 76 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Avery Dennison during the 3rd quarter valued at about $32,000. Milestone Investment Advisors LLC purchased a new stake in shares of Avery Dennison during the 3rd quarter valued at about $36,000. IFP Advisors Inc boosted its holdings in shares of Avery Dennison by 56.3% during the 2nd quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 72 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Avery Dennison during the 2nd quarter valued at about $33,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Bank of America downgraded shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target on the stock. in a report on Tuesday, January 2nd. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Truist Financial reissued a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. Finally, UBS Group raised their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $221.00.

Avery Dennison Price Performance

NYSE AVY opened at $211.57 on Friday. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $225.26. The stock has a market cap of $17.04 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 3.22 and a beta of 0.90. The company’s 50 day moving average is $214.97 and its two-hundred day moving average is $199.41. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting analysts’ consensus estimates of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the business earned $1.65 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Avery Dennison Co. will post 9.28 earnings per share for the current year.

Avery Dennison Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison 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 SEC, which is available at this link. In other news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison 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 SEC, which is available at this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the sale, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,879 shares of company stock worth $4,217,705. Company insiders own 1.10% of the company’s stock.

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.