R Squared Ltd Acquires Shares of 840 Avery Dennison Co. (NYSE:AVY)

R Squared Ltd bought a new position in Avery Dennison Co. (NYSE:AVY) during the 4th quarter, HoldingsChannel reports. The fund bought 840 shares of the industrial products company’s stock, valued at approximately $157,000.

A number of other hedge funds have also made changes to their positions in AVY. Nordea Investment Management AB grew its stake in Avery Dennison by 485.2% during the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after buying an additional 29,541 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after acquiring an additional 90,250 shares in the last quarter. Icon Wealth Advisors LLC increased its holdings in Avery Dennison by 553.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 2,657 shares in the last quarter. Meyer Handelman Co. bought a new position in Avery Dennison in the 4th quarter valued at $4,263,000. Finally, JPMorgan Chase & Co. boosted its stake in Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after purchasing an additional 46,390 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVY. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Truist Financial lowered their price target on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Barclays lowered their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, BMO Capital Markets cut their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average price target of $235.05.

Avery Dennison Price Performance

Shares of AVY opened at $192.67 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The stock has a market cap of $15.48 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89. The stock’s 50-day moving average price is $193.97 and its two-hundred day moving average price is $206.61. Avery Dennison Co. has a 1 year low of $181.99 and a 1 year high of $233.48.

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.