Jackson Creek Investment Advisors LLC Takes $245,000 Position in Avery Dennison Co. (NYSE:AVY)

Jackson Creek Investment Advisors LLC acquired a new position in shares of Avery Dennison Co. (NYSE:AVY) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,122 shares of the industrial products company’s stock, valued at approximately $245,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVY. Boston Partners raised its stake in shares of Avery Dennison by 3.6% in the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after purchasing an additional 35,538 shares during the period. Norges Bank acquired a new stake in Avery Dennison in the 4th quarter valued at approximately $185,292,000. Veritas Investment Partners UK Ltd. lifted its stake in Avery Dennison by 15.5% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 760,791 shares of the industrial products company’s stock valued at $153,804,000 after acquiring an additional 102,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Avery Dennison by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 736,696 shares of the industrial products company’s stock worth $148,933,000 after acquiring an additional 31,114 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Avery Dennison by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,811 shares of the industrial products company’s stock worth $135,005,000 after acquiring an additional 15,331 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Ignacio J. Walker sold 2,206 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $226.70, for a total value of $500,100.20. Following the transaction, the senior vice president now owns 7,082 shares of the company’s stock, valued at $1,605,489.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Ignacio J. Walker sold 2,206 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $226.70, for a total value of $500,100.20. Following the completion of the sale, the senior vice president now directly owns 7,082 shares in the company, valued at approximately $1,605,489.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the transaction, the chairman now 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 61,314 shares of company stock worth $13,045,187 over the last three months. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AVY shares. Citigroup boosted their price objective on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Robert W. Baird increased their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Argus lifted their target price on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. BMO Capital Markets reduced their price target on Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, Truist Financial raised their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $239.96.

Avery Dennison Stock Performance

AVY opened at $218.88 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. Avery Dennison Co. has a 12-month low of $165.21 and a 12-month high of $233.48. The business has a 50 day moving average of $215.56 and a 200-day moving average of $218.54. The stock has a market cap of $17.63 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 1.84 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the firm posted $1.92 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.61%. Avery Dennison’s dividend payout ratio is currently 51.39%.

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.