Avery Dennison Co. (NYSE:AVY) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in shares of Avery Dennison Co. (NYSE:AVYFree Report) by 4.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 80,428 shares of the industrial products company’s stock after selling 4,089 shares during the quarter. BNP Paribas Financial Markets’ holdings in Avery Dennison were worth $16,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC acquired a new stake in Avery Dennison during the third quarter valued at approximately $338,000. First Trust Direct Indexing L.P. bought a new position in Avery Dennison during the third quarter worth $208,000. Fifth Third Bancorp boosted its holdings in Avery Dennison by 5.5% in the third quarter. Fifth Third Bancorp now owns 2,701 shares of the industrial products company’s stock worth $493,000 after purchasing an additional 142 shares during the period. Allworth Financial LP increased its stake in Avery Dennison by 15.7% during the third quarter. Allworth Financial LP now owns 678 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 92 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Avery Dennison by 2.0% during the third quarter. Teacher Retirement System of Texas now owns 6,256 shares of the industrial products company’s stock worth $1,143,000 after purchasing an additional 123 shares during the period. Institutional investors own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $227.20, for a total transaction of $657,516.80. Following the sale, the chief financial officer now owns 67,457 shares in the company, valued at approximately $15,326,230.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Lovins sold 2,894 shares of Avery Dennison stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $227.20, for a total value of $657,516.80. Following the transaction, the chief financial officer now directly owns 67,457 shares in the company, valued at approximately $15,326,230.40. The disclosure for this sale can be found here. Insiders sold 17,462 shares of company stock worth $3,801,019 in the last quarter. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Citigroup increased their price target on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. JPMorgan Chase & Co. raised their target price on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $228.50.

Get Our Latest Stock Analysis on Avery Dennison

Avery Dennison Price Performance

NYSE:AVY opened at $226.11 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $217.72 and its 200 day moving average price is $204.47. Avery Dennison Co. has a 52-week low of $158.93 and a 52-week high of $228.15. The firm has a market cap of $18.21 billion, a P/E ratio of 33.01, a PEG ratio of 3.45 and a beta of 0.91.

Avery Dennison (NYSE:AVYGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.14. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. As a group, sell-side analysts predict that Avery Dennison Co. will post 9.31 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date is Wednesday, June 5th. Avery Dennison’s dividend payout ratio is currently 47.30%.

Avery Dennison Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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