Capital A Wealth Management LLC Takes $116,000 Position in Avery Dennison Co. (NYSE:AVY)

Capital A Wealth Management LLC acquired a new stake in Avery Dennison Co. (NYSE:AVY) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 622 shares of the industrial products company’s stock, valued at approximately $116,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Regents Gate Capital LLP acquired a new position in Avery Dennison during the fourth quarter worth $37,000. Spire Wealth Management increased its holdings in Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after buying an additional 130 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison during the fourth quarter worth $68,000. Assetmark Inc. increased its holdings in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after buying an additional 73 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Avery Dennison by 49.8% during the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company’s stock worth $77,000 after buying an additional 136 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the sale, the chairman now owns 316,300 shares of the company’s stock, valued at $58,891,897. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.84% of the stock is currently owned by company insiders.

Avery Dennison Trading Down 1.5%

Shares of Avery Dennison stock opened at $177.64 on Monday. The firm has a 50-day moving average of $173.96 and a 200-day moving average of $184.66. The stock has a market cap of $13.89 billion, a PE ratio of 20.37, a PEG ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a 52-week low of $157.00 and a 52-week high of $233.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.02). The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 EPS. As a group, sell-side analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Wednesday, June 4th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.88. Avery Dennison’s payout ratio is presently 43.32%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AVY shares. Raymond James lowered their target price on shares of Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Truist Financial reduced their price objective on shares of Avery Dennison from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Argus cut shares of Avery Dennison from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 12th. Jefferies Financial Group started coverage on shares of Avery Dennison in a research report on Tuesday, April 22nd. They set a “hold” rating and a $175.00 price objective for the company. Finally, JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $205.00 to $172.00 in a research report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.60.

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.