Avery Dennison Co. (NYSE:AVY) Shares Bought by Korea Investment CORP

Korea Investment CORP grew its holdings in Avery Dennison Co. (NYSE:AVY) by 12.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 93,974 shares of the industrial products company’s stock after buying an additional 10,140 shares during the period. Korea Investment CORP’s holdings in Avery Dennison were worth $17,585,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Larson Financial Group LLC lifted its position in Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares during the period. Regents Gate Capital LLP purchased a new position in Avery Dennison during the 4th quarter worth $37,000. Spire Wealth Management lifted 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 worth $56,000 after acquiring an additional 130 shares during the period. VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison in the fourth quarter valued at about $68,000. Finally, AdvisorNet Financial Inc raised its holdings in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

AVY has been the subject of a number of analyst reports. UBS Group cut their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research note on Monday, February 3rd. Truist Financial reissued a “buy” rating and set a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research report on Friday, January 31st. Finally, Bank of America lowered their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares of the company’s stock, valued at $58,891,897. This represents a 2.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.84% of the stock is owned by company insiders.

Avery Dennison Stock Performance

Avery Dennison stock opened at $175.64 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. Avery Dennison Co. has a fifty-two week low of $173.02 and a fifty-two week high of $233.48. The stock has a fifty day moving average of $183.29 and a two-hundred day moving average of $196.58. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last posted 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, analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s payout ratio is 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.