Mizuho Securities USA LLC Has $1.43 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Mizuho Securities USA LLC boosted its stake in Avery Dennison Co. (NYSE:AVY) by 45.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,615 shares of the industrial products company’s stock after buying an additional 2,394 shares during the quarter. Mizuho Securities USA LLC’s holdings in Avery Dennison were worth $1,425,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AVY. Raymond James Financial Inc. acquired a new stake in shares of Avery Dennison during the 4th quarter worth about $51,521,000. Geode Capital Management LLC grew its stake in Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Avery Dennison by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock worth $143,078,000 after buying an additional 134,560 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Avery Dennison by 411.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company’s stock valued at $23,084,000 after acquiring an additional 99,232 shares during the last quarter. Finally, World Investment Advisors LLC boosted its holdings in shares of Avery Dennison by 2,629.0% in the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after acquiring an additional 88,491 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AVY shares. Robert W. Baird set a $220.00 price objective on Avery Dennison in a research report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Citigroup reduced their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $222.51.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $175.38 on Wednesday. Avery Dennison Co. has a 52 week low of $173.02 and a 52 week high of $233.48. 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 $13.85 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.07 and a beta of 0.85. The firm has a fifty day moving average of $184.10 and a two-hundred day moving average of $197.31.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, equities research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.01%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s payout ratio is presently 40.37%.

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.