Greenleaf Trust Raises Holdings in Avery Dennison Co. (NYSE:AVY)

Greenleaf Trust raised its holdings in Avery Dennison Co. (NYSE:AVY) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,352 shares of the industrial products company’s stock after purchasing an additional 57 shares during the quarter. Greenleaf Trust’s holdings in Avery Dennison were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Larson Financial Group LLC raised its position in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares during the period. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison in the 3rd quarter valued at $36,000. Peterson Financial Group Inc. acquired a new position in Avery Dennison during the 3rd quarter worth about $39,000. Raleigh Capital Management Inc. boosted its holdings in Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Avery Dennison in the 3rd quarter valued at about $66,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AVY shares. Truist Financial reiterated a “buy” rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. BMO Capital Markets reduced their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. UBS Group cut their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Finally, StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.15.

Avery Dennison Stock Up 1.0 %

AVY stock opened at $184.54 on Thursday. The stock has a market cap of $14.83 billion, a P/E ratio of 21.16, a PEG ratio of 1.37 and a beta of 0.89. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a twelve month low of $179.20 and a twelve month high of $233.48. The company’s 50 day moving average is $192.28 and its two-hundred day moving average is $205.33.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Research analysts expect that Avery Dennison Co. will post 10.03 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.91%. Avery Dennison’s dividend payout ratio (DPR) is presently 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.