US Bancorp DE Sells 5,976 Shares of Avery Dennison Co. (NYSE:AVY)

US Bancorp DE decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 15.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,693 shares of the industrial products company’s stock after selling 5,976 shares during the quarter. US Bancorp DE’s holdings in Avery Dennison were worth $6,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC increased its position in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Avery Dennison during the 3rd quarter worth about $36,000. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison during the 4th quarter valued at about $37,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison during the 3rd quarter valued at about $39,000. Finally, Spire Wealth Management raised its stake in shares of Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 130 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup decreased their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Bank of America dropped their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a report on Friday, January 31st. Finally, Truist Financial reiterated a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Stock Down 2.6 %

NYSE AVY opened at $181.05 on Wednesday. Avery Dennison Co. has a twelve month low of $178.72 and a twelve month high of $233.48. The stock has a market cap of $14.30 billion, a PE ratio of 20.76, a PEG ratio of 2.07 and a beta of 0.89. The firm has a 50-day simple moving average of $186.47 and a 200 day simple moving average of $201.36. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY) last announced 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 return on equity of 33.06% and a net margin of 8.05%. On average, research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid 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 yield of 1.94%. Avery Dennison’s dividend payout ratio is currently 40.37%.

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.