Avery Dennison Corporation $AVY Shares Newly Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Avery Dennison Corporation (NYSE:AVY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,700 shares of the industrial products company’s stock, valued at approximately $461,000.

Other hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its position in Avery Dennison by 4.6% in the 3rd quarter. D.A. Davidson & CO. now owns 7,743 shares of the industrial products company’s stock worth $1,322,000 after buying an additional 341 shares during the period. North Dakota State Investment Board boosted its position in shares of Avery Dennison by 2.6% in the third quarter. North Dakota State Investment Board now owns 2,346 shares of the industrial products company’s stock valued at $400,000 after acquiring an additional 59 shares during the period. VestGen Advisors LLC bought a new stake in shares of Avery Dennison in the third quarter valued at approximately $204,000. Generali Asset Management SPA SGR grew its stake in shares of Avery Dennison by 2.1% in the third quarter. Generali Asset Management SPA SGR now owns 15,105 shares of the industrial products company’s stock worth $2,578,000 after acquiring an additional 316 shares during the last quarter. Finally, Roman Butler Fullerton & Co. bought a new position in Avery Dennison during the third quarter worth $248,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Down 1.5%

Shares of Avery Dennison stock opened at $186.81 on Friday. The firm has a market capitalization of $14.11 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.16 and a quick ratio of 0.80. The company’s fifty day moving average price is $174.92 and its two-hundred day moving average price is $172.32. Avery Dennison Corporation has a 52-week low of $152.42 and a 52-week high of $199.54.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.10. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the firm earned $2.37 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts expect that Avery Dennison Corporation will post 10.17 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, December 2nd. Avery Dennison’s dividend payout ratio is 43.29%.

Wall Street Analyst Weigh In

AVY has been the topic of a number of recent research reports. Weiss Ratings raised Avery Dennison from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Citigroup boosted their price target on Avery Dennison from $186.00 to $191.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $181.00 price target on shares of Avery Dennison in a report on Monday, September 28th. Wall Street Zen downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Truist Financial reduced their price objective on Avery Dennison from $209.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.10.

Insider Activity

In other Avery Dennison news, SVP Nicholas Colisto sold 3,886 shares of Avery Dennison stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total transaction of $663,262.48. Following the sale, the senior vice president directly owned 7,126 shares of the company’s stock, valued at approximately $1,216,265.68. The trade was a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andres Alberto Lopez sold 4,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $193.80, for a total value of $775,200.00. Following the sale, the director directly owned 1,147 shares in the company, valued at $222,288.60. The trade was a 77.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.81% of the company’s stock.

About Avery Dennison

Avery Dennison is a global materials science and digital identification solutions company. Its products include pressure-sensitive labels and adhesives, packaging materials, and graphic films used in applications such as product labeling, vehicle graphics, and building signage.

The company also develops technologies that help businesses identify and track products, including RFID inlays and tags, which can support inventory management and supply-chain visibility. Its solutions serve customers across industries such as apparel, food and beverage, logistics, healthcare, and retail.

Founded in 1935 by R.