CIBC Private Wealth Group LLC Sells 1,712 Shares of Avery Dennison Co. (NYSE:AVY)

CIBC Private Wealth Group LLC trimmed its holdings in shares of Avery Dennison Co. (NYSE:AVYFree Report) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,532 shares of the industrial products company’s stock after selling 1,712 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Avery Dennison were worth $4,151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Avery Dennison during the third quarter valued at $32,000. VisionPoint Advisory Group LLC purchased a new position in shares of Avery Dennison during the fourth quarter valued at $42,000. Anchor Investment Management LLC purchased a new position in shares of Avery Dennison during the fourth quarter valued at $42,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after buying an additional 166 shares during the period. Finally, Covestor Ltd increased its stake in shares of Avery Dennison by 185.3% during the third quarter. Covestor Ltd now owns 311 shares of the industrial products company’s stock valued at $57,000 after buying an additional 202 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Ryan D. Yost sold 149 shares of Avery Dennison stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $226.38, for a total transaction of $33,730.62. Following the completion of the sale, the insider now owns 2,110 shares of the company’s stock, valued at $477,661.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ryan D. Yost sold 149 shares of Avery Dennison stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $226.38, for a total transaction of $33,730.62. Following the completion of the sale, the insider now owns 2,110 shares of the company’s stock, valued at $477,661.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Yost sold 584 shares of Avery Dennison stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total value of $129,245.04. Following the sale, the insider now directly owns 2,259 shares of the company’s stock, valued at approximately $499,939.29. The disclosure for this sale can be found here. Insiders sold 11,777 shares of company stock valued at $2,654,858 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AVY shares. Argus raised their price target on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Truist Financial raised their price target on Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Robert W. Baird lifted their target price on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup lifted their target price on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.50.

View Our Latest Analysis on AVY

Avery Dennison Price Performance

Shares of AVY stock opened at $226.29 on Friday. Avery Dennison Co. has a fifty-two week low of $162.32 and a fifty-two week high of $229.98. The firm has a market capitalization of $18.23 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 2.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. The stock’s 50-day simple moving average is $220.99 and its 200-day simple moving average is $209.82.

Avery Dennison (NYSE:AVYGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.14. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. As a group, equities analysts forecast that Avery Dennison Co. will post 9.32 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.88 per share. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.56%. Avery Dennison’s payout ratio is presently 51.39%.

About Avery Dennison

(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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