AdvisorNet Financial Inc Buys 58 Shares of Avery Dennison Co. (NYSE:AVY)

AdvisorNet Financial Inc boosted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 367 shares of the industrial products company’s stock after purchasing an additional 58 shares during the period. AdvisorNet Financial Inc’s holdings in Avery Dennison were worth $69,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in Avery Dennison by 100.0% during the third 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. Kennebec Savings Bank bought a new position in Avery Dennison during the third quarter worth about $36,000. Peterson Financial Group Inc. bought a new position in Avery Dennison during the third quarter worth about $39,000. Raleigh Capital Management Inc. lifted its stake in Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 238 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Avery Dennison during the third quarter worth approximately $66,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY stock opened at $191.07 on Friday. Avery Dennison Co. has a 52-week low of $181.99 and a 52-week high of $233.48. The stock has a market cap of $15.35 billion, a PE ratio of 22.94, a PEG ratio of 1.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The firm’s 50 day moving average price is $195.08 and its two-hundred day moving average price is $207.86.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $2.10 earnings per share. As a group, analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.84%. Avery Dennison’s dividend payout ratio is 42.26%.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AVY shares. BMO Capital Markets dropped their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America dropped their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial dropped their price objective on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group lowered their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Citigroup lowered their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.05.

Avery Dennison 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.