Avery Dennison Co. (NYSE:AVY) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its position in shares of Avery Dennison Co. (NYSE:AVY) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,641 shares of the industrial products company’s stock after selling 2,279 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Avery Dennison were worth $2,376,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares during the period. Kennebec Savings Bank purchased a new position in Avery Dennison during the third quarter worth approximately $36,000. Peterson Financial Group Inc. acquired a new stake in Avery Dennison in the third quarter valued at approximately $39,000. Raleigh Capital Management Inc. increased its position in shares of Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after buying an additional 238 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Avery Dennison during the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AVY. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $210.00 to $205.00 in a report on Friday, January 31st. BMO Capital Markets reduced their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Raymond James reissued an “outperform” rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, Barclays dropped their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $227.15.

Avery Dennison Price Performance

Shares of AVY stock opened at $179.10 on Monday. The firm’s 50-day moving average is $190.86 and its two-hundred day moving average is $204.59. Avery Dennison Co. has a 12 month low of $178.72 and a 12 month high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company has a market capitalization of $14.39 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data 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 net margin of 8.05% and a return on equity of 33.06%. Analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.97%. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Insider Buying and Selling at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

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.