Robeco Institutional Asset Management B.V. reduced its stake in Avery Dennison Corporation (NYSE:AVY – Free Report) by 19.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,748 shares of the industrial products company’s stock after selling 19,861 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.10% of Avery Dennison worth $14,193,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of AVY. Bank of New York Mellon Corp increased its holdings in Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after acquiring an additional 134,560 shares during the last quarter. New York Life Investment Management LLC increased its holdings in Avery Dennison by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company’s stock valued at $2,055,000 after acquiring an additional 61 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in Avery Dennison by 2.3% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 31,500 shares of the industrial products company’s stock valued at $5,895,000 after acquiring an additional 700 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Avery Dennison in the 4th quarter worth about $12,730,000. Finally, Private Trust Co. NA increased its holdings in shares of Avery Dennison by 1.8% in the 4th quarter. Private Trust Co. NA now owns 7,209 shares of the industrial products company’s stock worth $1,349,000 after buying an additional 127 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.
Avery Dennison Stock Performance
Shares of NYSE:AVY opened at $175.50 on Friday. The company has a market capitalization of $13.72 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.81 and a beta of 0.88. Avery Dennison Corporation has a 12 month low of $157.00 and a 12 month high of $233.48. The firm’s 50-day moving average is $176.52 and its 200 day moving average is $180.44. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19.
Avery Dennison Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.94 dividend. This is an increase from Avery Dennison’s previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Wednesday, June 4th. Avery Dennison’s dividend payout ratio is currently 43.32%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Avery Dennison from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Truist Financial reduced their target price on shares of Avery Dennison from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $205.00 to $172.00 in a report on Thursday, April 24th. 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 report on Thursday, April 24th. Finally, Raymond James Financial reduced their target price on shares of Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $206.60.
Check Out Our Latest Stock Analysis on Avery Dennison
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.
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