Avery Dennison Co. (NYSE:AVY) Holdings Lifted by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc boosted its holdings in Avery Dennison Co. (NYSE:AVY) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,061 shares of the industrial products company’s stock after acquiring an additional 1,531 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Avery Dennison were worth $8,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Avery Dennison in the 2nd quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC acquired a new position in Avery Dennison in the second quarter worth approximately $42,000. 1620 Investment Advisors Inc. bought a new position in shares of Avery Dennison in the second quarter valued at $51,000. Raleigh Capital Management Inc. lifted its position in shares of Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Avery Dennison by 936.7% during the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 281 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $66,333,345.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $206.80, for a total transaction of $620,400.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $62,890,775.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,108 shares of company stock valued at $9,181,457 over the last three months. 1.10% of the stock is currently owned by insiders.

Avery Dennison Stock Performance

Shares of NYSE AVY opened at $206.75 on Wednesday. Avery Dennison Co. has a one year low of $176.75 and a one year high of $233.48. The business’s 50-day moving average price is $215.45 and its two-hundred day moving average price is $218.24. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The company has a market capitalization of $16.61 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.10 earnings per share. Analysts anticipate that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is presently 42.26%.

Analysts Set New Price Targets

AVY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their price objective for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. Truist Financial raised their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the company from $262.00 to $235.00 in a report on Thursday, July 25th. Finally, Barclays decreased their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $244.96.

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.