People s United Financial Inc. Has $20.60 Million Stake in Avery Dennison Co. (NYSE:AVY)

People s United Financial Inc. boosted its stake in Avery Dennison Co. (NYSE:AVYGet Rating) by 0.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 95,118 shares of the industrial products company’s stock after buying an additional 253 shares during the quarter. People s United Financial Inc.’s holdings in Avery Dennison were worth $20,600,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Victory Capital Management Inc. grew its stake in shares of Avery Dennison by 5.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,837,141 shares of the industrial products company’s stock worth $397,869,000 after acquiring an additional 98,939 shares during the period. Geode Capital Management LLC raised its holdings in shares of Avery Dennison by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,524,097 shares of the industrial products company’s stock valued at $329,200,000 after acquiring an additional 17,936 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Avery Dennison by 9.1% during the 4th quarter. Lazard Asset Management LLC now owns 1,181,068 shares of the industrial products company’s stock valued at $255,783,000 after buying an additional 98,953 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Avery Dennison by 72.5% during the 4th quarter. JPMorgan Chase & Co. now owns 875,298 shares of the industrial products company’s stock valued at $189,563,000 after buying an additional 367,771 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Avery Dennison by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 720,867 shares of the industrial products company’s stock valued at $149,392,000 after buying an additional 6,210 shares in the last quarter. Hedge funds and other institutional investors own 88.83% of the company’s stock.

Shares of AVY stock traded up $2.40 on Monday, hitting $166.90. The stock had a trading volume of 7,339 shares, compared to its average volume of 634,135. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 1.44. The business has a 50 day moving average price of $173.15 and a 200 day moving average price of $191.26. The company has a market cap of $13.64 billion, a PE ratio of 18.84, a P/E/G ratio of 2.47 and a beta of 0.93. Avery Dennison Co. has a one year low of $156.51 and a one year high of $229.24.

Avery Dennison (NYSE:AVYGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.23. Avery Dennison had a return on equity of 40.50% and a net margin of 8.37%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the company posted $2.40 earnings per share. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Equities research analysts expect that Avery Dennison Co. will post 9.71 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, May 31st. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.68. Avery Dennison’s payout ratio is 31.16%.

A number of brokerages have recently weighed in on AVY. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $215.00 to $195.00 in a research report on Wednesday, April 27th. Citigroup lowered their price objective on Avery Dennison from $255.00 to $247.00 in a research note on Friday, April 8th. Loop Capital lowered their price objective on Avery Dennison from $209.00 to $202.00 and set a “buy” rating for the company in a research note on Wednesday, April 13th. StockNews.com began coverage on shares of Avery Dennison in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Truist Financial began coverage on shares of Avery Dennison in a research note on Friday, March 25th. They issued a “buy” rating and a $227.00 price objective on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison has an average rating of “Buy” and an average price target of $216.00.

About Avery Dennison (Get Rating)

Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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

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