Avery Dennison Co. (NYSE:AVY) Stock Holdings Lifted by TD Asset Management Inc

TD Asset Management Inc increased its holdings in Avery Dennison Co. (NYSE:AVY) by 4.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 327,475 shares of the industrial products company’s stock after buying an additional 12,554 shares during the period. TD Asset Management Inc owned about 0.41% of Avery Dennison worth $73,109,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AVY. Anchor Investment Management LLC acquired a new position in Avery Dennison in the fourth quarter valued at approximately $42,000. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison during the 4th quarter valued at approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after buying an additional 166 shares during the last quarter. Palisade Asset Management LLC acquired a new position in shares of Avery Dennison during the first quarter valued at $64,000. Finally, Parkside Financial Bank & Trust grew its position in shares of Avery Dennison by 250.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 403 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 288 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In related news, insider Francisco Melo sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $227.00, for a total value of $851,250.00. Following the completion of the transaction, the insider now owns 15,230 shares of the company’s stock, valued at approximately $3,457,210. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Avery Dennison news, SVP Deena Baker-Nel sold 3,000 shares of Avery Dennison stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total transaction of $684,510.00. Following the transaction, the senior vice president now owns 1,577 shares of the company’s stock, valued at approximately $359,824.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Francisco Melo sold 3,750 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $227.00, for a total transaction of $851,250.00. Following the completion of the sale, the insider now directly owns 15,230 shares of the company’s stock, valued at $3,457,210. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,583 shares of company stock valued at $2,856,353. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Price Performance

NYSE:AVY traded down $2.28 during trading hours on Friday, reaching $221.65. 53,870 shares of the company’s stock were exchanged, compared to its average volume of 438,218. 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 company has a market capitalization of $17.85 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 1.92 and a beta of 0.88. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $231.53. The business’s 50-day simple moving average is $223.86 and its two-hundred day simple moving average is $215.09.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.14. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. Sell-side analysts expect that Avery Dennison Co. will post 9.4 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.59%. The ex-dividend date was Wednesday, June 5th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is presently 51.39%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AVY shares. Citigroup boosted their target price on shares of Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Truist Financial increased their price objective on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a report on Friday, April 26th. 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. Argus increased their price target on Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Raymond James restated an “outperform” rating and set a $240.00 price objective (up from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.15.

About Avery Dennison

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.