VisionPoint Advisory Group LLC Takes Position in Avery Dennison Co. (NYSE:AVY)

VisionPoint Advisory Group LLC bought a new position in Avery Dennison Co. (NYSE:AVY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 373 shares of the industrial products company’s stock, valued at approximately $68,000.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in shares of Avery Dennison by 100.0% in the 3rd 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 in the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison in the 3rd quarter worth approximately $36,000. Regents Gate Capital LLP purchased a new stake in Avery Dennison in the fourth quarter worth approximately $37,000. Peterson Financial Group Inc. bought a new position in Avery Dennison during the third quarter valued at approximately $39,000. Finally, Spire Wealth Management raised its stake in shares of Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 130 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVY. UBS Group cut their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price target for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Citigroup decreased their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Barclays dropped their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $227.15.

Insiders Place Their Bets

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 transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Price Performance

AVY opened at $184.34 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The stock has a market capitalization of $14.81 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89. The stock’s 50 day moving average price is $187.22 and its 200-day moving average price is $202.71. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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%. On average, equities research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

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