Avery Dennison Co. (NYSE:AVY) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its stake in shares of Avery Dennison Co. (NYSE:AVY) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,302 shares of the industrial products company’s stock after selling 83 shares during the period. Gulf International Bank UK Ltd’s holdings in Avery Dennison were worth $1,179,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AVY. Wealth Enhancement Advisory Services LLC grew its holdings in Avery Dennison by 2.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,915 shares of the industrial products company’s stock worth $2,410,000 after acquiring an additional 225 shares in the last quarter. abrdn plc boosted its holdings in shares of Avery Dennison by 11.9% in the 3rd quarter. abrdn plc now owns 34,047 shares of the industrial products company’s stock valued at $7,523,000 after buying an additional 3,634 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Avery Dennison by 8.5% in the 3rd quarter. New York State Teachers Retirement System now owns 74,326 shares of the industrial products company’s stock valued at $16,408,000 after buying an additional 5,796 shares during the period. US Bancorp DE boosted its holdings in shares of Avery Dennison by 9.1% in the 3rd quarter. US Bancorp DE now owns 39,669 shares of the industrial products company’s stock valued at $8,757,000 after buying an additional 3,305 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in shares of Avery Dennison by 3.7% in the 3rd quarter. New York State Common Retirement Fund now owns 77,080 shares of the industrial products company’s stock valued at $17,016,000 after buying an additional 2,724 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. Citigroup decreased 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. UBS Group decreased 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. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a report on Friday, January 31st. Finally, Bank of America decreased their price target 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $222.51.

Avery Dennison Trading Up 1.4 %

Avery Dennison stock opened at $188.07 on Friday. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.07 and a beta of 0.89. The firm has a 50-day moving average price of $186.69 and a two-hundred day moving average price of $201.83. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Sell-side analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.87%. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

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.