Kentucky Retirement Systems Insurance Trust Fund Reduces Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,658 shares of the industrial products company’s stock after selling 211 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Avery Dennison were worth $593,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. VisionPoint Advisory Group LLC acquired a new position in shares of Avery Dennison in the 4th quarter worth approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position 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 acquiring an additional 166 shares during the period. Palisade Asset Management LLC acquired a new position in Avery Dennison during the 1st quarter worth $64,000. Parkside Financial Bank & Trust boosted its position in Avery Dennison by 250.4% during the 4th 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 period. Finally, TFO Wealth Partners LLC boosted its position in Avery Dennison by 21,350.0% during the 4th quarter. TFO Wealth Partners LLC now owns 429 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 427 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Ignacio J. Walker sold 2,206 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $226.70, for a total value of $500,100.20. Following the transaction, the senior vice president now owns 7,082 shares in the company, valued at $1,605,489.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Ignacio J. Walker sold 2,206 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $226.70, for a total transaction of $500,100.20. Following the completion of the sale, the senior vice president now owns 7,082 shares in the company, valued at approximately $1,605,489.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Gregory Lovins sold 2,894 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $227.20, for a total value of $657,516.80. Following the sale, the chief financial officer now owns 67,457 shares of the company’s stock, valued at approximately $15,326,230.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,583 shares of company stock valued at $2,856,353. Company insiders own 1.10% of the company’s stock.

Avery Dennison Trading Up 2.2 %

Shares of Avery Dennison stock traded up $4.64 on Friday, reaching $213.74. 522,970 shares of the company were exchanged, compared to its average volume of 508,594. The stock has a fifty day moving average price of $222.84 and a 200-day moving average price of $216.04. The firm has a market capitalization of $17.22 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 1.77 and a beta of 0.88. The company has a current ratio of 0.90, a quick ratio of 0.58 and a debt-to-equity ratio of 0.89. Avery Dennison Co. has a fifty-two week low of $165.21 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.16. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. Avery Dennison’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.92 earnings per share. On average, analysts expect that Avery Dennison Co. will post 9.39 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Wednesday, September 4th. Avery Dennison’s payout ratio is 51.39%.

Analyst Ratings Changes

A number of brokerages have issued reports on AVY. Truist Financial boosted their price target on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup boosted their price objective on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Robert W. Baird boosted their price objective on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Finally, UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $262.00 to $235.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average target price of $239.96.

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.