Avery Dennison Co. (NYSE:AVY) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in Avery Dennison Co. (NYSE:AVY) by 5.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 72,980 shares of the industrial products company’s stock after selling 4,100 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of Avery Dennison worth $13,657,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after acquiring an additional 157,754 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after buying an additional 90,250 shares in the last quarter. World Investment Advisors LLC grew its holdings in Avery Dennison by 2,629.0% during the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after acquiring an additional 88,491 shares during the period. Ferguson Wellman Capital Management Inc. raised its position in Avery Dennison by 135.6% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 146,830 shares of the industrial products company’s stock worth $27,476,000 after acquiring an additional 84,501 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings 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 valued at $92,771,000 after acquiring an additional 46,390 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AVY. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research note on Friday, January 31st. 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. UBS Group reduced their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Barclays decreased their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Stock Up 0.0 %

Shares of NYSE:AVY opened at $184.34 on Monday. 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 capitalization of $14.81 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.06 and a beta of 0.89. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48. The stock’s fifty day simple moving average is $187.01 and its 200-day simple moving average is $202.56.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, equities research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.91%. Avery Dennison’s payout ratio is currently 40.37%.

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.