SVB Wealth LLC Acquires New Position in Avery Dennison Co. (NYSE:AVY)

SVB Wealth LLC acquired a new stake in Avery Dennison Co. (NYSE:AVY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,136 shares of the industrial products company’s stock, valued at approximately $230,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in shares of Avery Dennison by 22.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock valued at $487,857,000 after acquiring an additional 493,857 shares during the period. Morgan Stanley lifted its position in shares of Avery Dennison by 55.7% during the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after acquiring an additional 639,521 shares during the period. Cerity Partners LLC lifted its position in shares of Avery Dennison by 4,159.9% during the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock valued at $240,819,000 after acquiring an additional 1,163,264 shares during the period. Truist Financial Corp lifted its position in shares of Avery Dennison by 5.5% during the 3rd quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company’s stock valued at $200,302,000 after acquiring an additional 57,106 shares during the period. Finally, Boston Partners lifted its position in shares of Avery Dennison by 43.9% during the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock valued at $184,026,000 after acquiring an additional 307,325 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Up 0.1 %

AVY stock opened at $211.77 on Tuesday. The stock has a market capitalization of $17.05 billion, a P/E ratio of 34.10, a PEG ratio of 3.27 and a beta of 0.90. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. Avery Dennison Co. has a one year low of $158.93 and a one year high of $225.26. The company has a 50 day moving average price of $215.07 and a two-hundred day moving average price of $199.73.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the company earned $1.65 EPS. Avery Dennison’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that Avery Dennison Co. will post 9.26 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 annualized dividend and a dividend yield of 1.53%. Avery Dennison’s dividend payout ratio is presently 52.17%.

Wall Street Analyst Weigh In

AVY has been the subject of a number of research reports. Citigroup lifted their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday. Bank of America cut shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective for the company. in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. raised their price objective on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Raymond James raised their price objective on shares of Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.00.

Insider Activity

In other news, insider Ryan D. Yost sold 1,400 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the transaction, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction on Monday, February 26th. The shares were sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the transaction, the senior vice president now owns 6,102 shares in the company, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock valued at $4,217,705 in the last ninety days. Company insiders own 1.10% of the company’s stock.

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.