Czech National Bank Grows Position in Avery Dennison Co. (NYSE:AVY)

Czech National Bank boosted its stake in Avery Dennison Co. (NYSE:AVY) by 8.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,350 shares of the industrial products company’s stock after purchasing an additional 1,181 shares during the quarter. Czech National Bank’s holdings in Avery Dennison were worth $3,356,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AVY. VisionPoint Advisory Group LLC purchased a new stake in Avery Dennison during the fourth quarter worth approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after buying an additional 166 shares during the period. Palisade Asset Management LLC purchased a new stake in Avery Dennison during the first quarter worth approximately $64,000. Versant Capital Management Inc grew its stake in Avery Dennison by 936.7% during the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after buying an additional 281 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in Avery Dennison by 250.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 403 shares of the industrial products company’s stock worth $81,000 after buying an additional 288 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVY has been the subject of several research reports. Truist Financial boosted their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Raymond James reissued an “outperform” rating and set a $240.00 target price (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Robert W. Baird boosted their target price on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. JPMorgan Chase & Co. boosted their target price on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.96.

Avery Dennison Stock Down 0.3 %

AVY traded down $0.63 during trading on Monday, hitting $207.23. The company had a trading volume of 41,026 shares, compared to its average volume of 451,691. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. Avery Dennison Co. has a 1-year low of $165.21 and a 1-year high of $233.48. The business has a 50-day moving average of $219.49 and a 200-day moving average of $216.97. The company has a market cap of $16.69 billion, a PE ratio of 30.15, a P/E/G ratio of 1.77 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts forecast that Avery Dennison Co. will post 9.39 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.70%. Avery Dennison’s payout ratio is 51.39%.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total transaction of $617,280.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $62,574,496.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total value of $617,280.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $62,574,496.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,004,367.50. The disclosure for this sale can be found here. Insiders sold a total of 25,689 shares of company stock worth $5,562,466 over the last 90 days. Insiders own 1.10% of the company’s stock.

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.