Greenleaf Trust Purchases 80 Shares of Avery Dennison Co. (NYSE:AVY)

Greenleaf Trust lifted its position in shares of Avery Dennison Co. (NYSE:AVY) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,287 shares of the industrial products company’s stock after purchasing an additional 80 shares during the quarter. Greenleaf Trust’s holdings in Avery Dennison were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVY. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Avery Dennison during the 3rd quarter valued at $32,000. Milestone Investment Advisors LLC purchased a new position in Avery Dennison during the 3rd quarter valued at about $36,000. Anchor Investment Management LLC bought a new stake in Avery Dennison during the fourth quarter worth about $42,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Avery Dennison by 164.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 166 shares during the period. Finally, Adirondack Trust Co. bought a new position in shares of Avery Dennison during the third quarter valued at approximately $55,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on AVY. JPMorgan Chase & Co. upped their price target on Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. UBS Group raised their price target on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Truist Financial reiterated a “buy” rating and issued a $249.00 price target on shares of Avery Dennison in a research note on Friday, January 19th. Raymond James raised their price objective on shares of Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.00.

Avery Dennison Stock Performance

Shares of AVY stock opened at $212.42 on Thursday. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average price of $215.34 and a 200-day moving average price of $200.01. Avery Dennison Co. has a 52 week low of $158.93 and a 52 week high of $225.26. The firm has a market capitalization of $17.10 billion, a PE ratio of 34.21, a P/E/G ratio of 3.27 and a beta of 0.90.

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

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Tuesday, March 5th. Avery Dennison’s dividend payout ratio is 52.17%.

Insiders Place Their Bets

In other news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Ignacio J. Walker sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,879 shares of company stock valued at $4,217,705. Insiders own 1.10% of the company’s stock.

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.