Avery Dennison Co. (NYSE:AVY) Shares Sold by Schroder Investment Management Group

Posted by Defense World Staff on Jun 4th, 2023

Schroder Investment Management Group cut its stake in shares of Avery Dennison Co. (NYSE:AVY – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,351 shares of the industrial products company’s stock after selling 78 shares during the period. Schroder Investment Management Group’s holdings in Avery Dennison were worth $1,331,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. State of Alaska Department of Revenue increased its position in shares of Avery Dennison by 0.3% during the fourth quarter. State of Alaska Department of Revenue now owns 19,053 shares of the industrial products company’s stock valued at $3,448,000 after acquiring an additional 52 shares during the last quarter. Waldron Private Wealth LLC grew its holdings in shares of Avery Dennison by 3.4% in the third quarter. Waldron Private Wealth LLC now owns 1,704 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 56 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Avery Dennison by 13.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 558 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 64 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of Avery Dennison by 0.5% in the first quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock valued at $2,215,000 after purchasing an additional 65 shares in the last quarter. Finally, Wall Street Access Asset Management LLC grew its holdings in shares of Avery Dennison by 2.5% in the fourth quarter. Wall Street Access Asset Management LLC now owns 2,727 shares of the industrial products company’s stock valued at $494,000 after purchasing an additional 67 shares in the last quarter. 89.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Avery Dennison

In other news, Director Julia A. Stewart sold 930 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $172.99, for a total transaction of $160,880.70. Following the completion of the sale, the director now owns 15,962 shares in the company, valued at approximately $2,761,266.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVY. Loop Capital lifted their price objective on shares of Avery Dennison from $90.00 to $108.00 in a report on Thursday. StockNews.com began coverage on shares of Avery Dennison in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, BMO Capital Markets dropped their price objective on shares of Avery Dennison from $240.00 to $233.00 and set an “outperform” rating for the company in a report on Monday, February 6th. Two investment analysts have rated the stock with a hold rating and five 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 $199.25.

Avery Dennison Stock Up 4.5 %

Shares of Avery Dennison stock opened at $166.33 on Friday. Avery Dennison Co. has a 52-week low of $151.62 and a 52-week high of $204.37. The company has a 50 day moving average of $172.33 and a 200 day moving average of $179.59. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $13.43 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.53 and a beta of 0.96.

Avery Dennison (NYSE:AVY – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.04. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a net margin of 7.77% and a return on equity of 34.49%. The company’s revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.40 EPS. As a group, research analysts forecast that Avery Dennison Co. will post 8.98 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, June 6th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.75. Avery Dennison’s payout ratio is currently 36.10%.

Avery Dennison Company Profile

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Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the Materials and Solutions Group segments. The Materials Group segment manufactures and sells pressure-sensitive label materials, films for graphic and reflective products, performance tapes and other adhesive products for industrial, medical and other applications, as well as fastener solutions.