Dorsey & Whitney Trust CO LLC Decreases Stock Position in Avery Dennison Co. (NYSE:AVY)

Dorsey & Whitney Trust CO LLC cut its position in Avery Dennison Co. (NYSE:AVY) by 14.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,869 shares of the industrial products company’s stock after selling 487 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Avery Dennison were worth $537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AVY. Andra AP fonden raised its holdings in Avery Dennison by 41.0% in the fourth quarter. Andra AP fonden now owns 79,400 shares of the industrial products company’s stock valued at $14,858,000 after acquiring an additional 23,100 shares in the last quarter. Edgestream Partners L.P. raised its holdings in Avery Dennison by 153.0% in the fourth quarter. Edgestream Partners L.P. now owns 21,310 shares of the industrial products company’s stock valued at $3,988,000 after acquiring an additional 12,886 shares in the last quarter. Callan Family Office LLC acquired a new stake in Avery Dennison in the fourth quarter valued at $383,000. Raymond James Financial Inc. acquired a new stake in Avery Dennison in the fourth quarter valued at $51,521,000. Finally, Dana Investment Advisors Inc. raised its holdings in Avery Dennison by 8.2% in the fourth quarter. Dana Investment Advisors Inc. now owns 7,883 shares of the industrial products company’s stock valued at $1,475,000 after acquiring an additional 599 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AVY shares. Raymond James reaffirmed an “outperform” rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup cut their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Truist Financial reissued a “buy” rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Finally, UBS Group dropped their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Stock Up 1.6 %

Avery Dennison stock opened at $186.80 on Tuesday. The company has a 50-day simple moving average of $186.11 and a 200-day simple moving average of $200.52. The firm has a market capitalization of $14.76 billion, a P/E ratio of 21.42, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a one year low of $178.72 and a one year high of $233.48.

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

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.88%. Avery Dennison’s dividend payout ratio is currently 40.37%.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

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.