Choreo LLC Boosts Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Choreo LLC boosted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 50.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,195 shares of the industrial products company’s stock after buying an additional 4,077 shares during the quarter. Choreo LLC’s holdings in Avery Dennison were worth $2,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Empirical Finance LLC grew its position in Avery Dennison by 2.0% during the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock worth $623,000 after buying an additional 55 shares during the period. Procyon Advisors LLC grew its position in Avery Dennison by 4.0% during the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after buying an additional 56 shares during the period. Greenleaf Trust grew its position in Avery Dennison by 4.4% during the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock worth $253,000 after buying an additional 57 shares during the period. AdvisorNet Financial Inc grew its position in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after buying an additional 58 shares during the period. Finally, Lindenwold Advisors INC grew its position in Avery Dennison by 0.6% during the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after buying an additional 59 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm’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 transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by insiders.

Avery Dennison Stock Performance

NYSE:AVY opened at $181.57 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The company has a market cap of $14.59 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.37 and a beta of 0.89. Avery Dennison Co. has a fifty-two week low of $179.20 and a fifty-two week high of $233.48. The firm’s 50 day moving average is $191.86 and its two-hundred day moving average is $205.18.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Analysts expect that Avery Dennison Co. will post 10.03 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is currently 40.37%.

Analysts Set New Price Targets

AVY has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. UBS Group lowered their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Barclays lowered their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $227.15.

Avery Dennison 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.