CIBC Asset Management Inc Sells 2,799 Shares of Avery Dennison Corporation $AVY

CIBC Asset Management Inc lessened its holdings in Avery Dennison Corporation (NYSE:AVY) by 18.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,219 shares of the industrial products company’s stock after selling 2,799 shares during the quarter. CIBC Asset Management Inc’s holdings in Avery Dennison were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. purchased a new stake in Avery Dennison during the third quarter worth about $29,000. Vermillion & White Wealth Management Group LLC grew its holdings in Avery Dennison by 89.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. NewSquare Capital LLC increased its position in Avery Dennison by 156.2% in the second quarter. NewSquare Capital LLC now owns 187 shares of the industrial products company’s stock worth $33,000 after buying an additional 114 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Avery Dennison in the 2nd quarter worth about $35,000. Finally, CYBER HORNET ETFs LLC bought a new stake in Avery Dennison in the 2nd quarter valued at about $37,000. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AVY has been the topic of several research reports. Argus set a $200.00 price target on shares of Avery Dennison in a research report on Tuesday, October 28th. BMO Capital Markets reissued an “outperform” rating and set a $210.00 price objective on shares of Avery Dennison in a report on Thursday, October 23rd. UBS Group raised Avery Dennison from a “neutral” rating to a “buy” rating and lifted their target price for the company from $181.00 to $218.00 in a report on Thursday, October 23rd. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $182.00 to $195.00 in a report on Thursday, October 23rd. Finally, Citigroup boosted their price objective on shares of Avery Dennison from $180.00 to $188.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $204.36.

Avery Dennison Stock Down 1.1%

AVY stock opened at $184.85 on Thursday. The company’s 50 day moving average is $180.80 and its 200 day moving average is $173.94. The stock has a market cap of $14.29 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.00. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 1.45. Avery Dennison Corporation has a 1-year low of $156.23 and a 1-year high of $194.75.

Avery Dennison Profile

Avery Dennison (NYSE:AVY) is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison’s offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.