Focus Partners Wealth Increases Position in Avery Dennison Co. (NYSE:AVY)

Focus Partners Wealth lifted its position in shares of Avery Dennison Co. (NYSE:AVY) by 134.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,640 shares of the industrial products company’s stock after buying an additional 2,089 shares during the quarter. Focus Partners Wealth’s holdings in Avery Dennison were worth $708,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison during the fourth quarter worth about $37,000. Spire Wealth Management boosted its stake in 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 purchasing an additional 130 shares during the period. AdvisorNet Financial Inc grew its holdings in Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after buying an additional 58 shares in the last quarter. VisionPoint Advisory Group LLC bought a new stake in shares of Avery Dennison during the fourth quarter valued at approximately $68,000. Finally, Assetmark Inc. lifted its holdings in shares of Avery Dennison by 22.5% in the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after buying an additional 73 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY stock opened at $183.27 on Monday. Avery Dennison Co. has a 52-week low of $157.00 and a 52-week high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The stock has a market cap of $14.33 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88. The business has a 50-day simple moving average of $173.68 and a 200-day simple moving average of $185.52.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.02). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Avery Dennison’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 EPS. On average, equities analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a $0.94 dividend. This is a boost from Avery Dennison’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 2.05%. Avery Dennison’s payout ratio is presently 43.32%.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. The trade was a 4.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Raymond James lowered their target price on Avery Dennison from $208.00 to $194.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Truist Financial dropped their price objective on shares of Avery Dennison from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Barclays reduced their target price on shares of Avery Dennison from $225.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Robert W. Baird dropped their price target on shares of Avery Dennison from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, BMO Capital Markets cut their target price on Avery Dennison from $226.00 to $216.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average target price of $206.60.

Avery Dennison Company 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.