Hartford Investment Management Co. increased its holdings in shares of Avery Dennison Co. (NYSE:AVY – Free Report) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,847 shares of the industrial products company’s stock after buying an additional 945 shares during the period. Hartford Investment Management Co.’s holdings in Avery Dennison were worth $1,225,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Barclays PLC increased its stake in Avery Dennison by 23.3% in the fourth quarter. Barclays PLC now owns 136,799 shares of the industrial products company’s stock valued at $24,761,000 after purchasing an additional 25,856 shares in the last quarter. FDx Advisors Inc. boosted its holdings in shares of Avery Dennison by 25.2% in the fourth quarter. FDx Advisors Inc. now owns 5,906 shares of the industrial products company’s stock valued at $1,069,000 after buying an additional 1,187 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Avery Dennison by 93.5% in the first quarter. D.A. Davidson & CO. now owns 5,663 shares of the industrial products company’s stock valued at $1,013,000 after buying an additional 2,737 shares during the period. 9258 Wealth Management LLC acquired a new position in shares of Avery Dennison in the fourth quarter valued at approximately $206,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Avery Dennison by 46.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,746 shares of the industrial products company’s stock valued at $2,126,000 after buying an additional 3,706 shares during the period. Institutional investors own 90.27% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on AVY shares. Argus reduced their price target on shares of Avery Dennison from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, July 26th. Citigroup upped their price target on shares of Avery Dennison from $200.00 to $205.00 in a report on Wednesday, July 26th. Loop Capital reduced their price target on shares of Avery Dennison from $208.00 to $201.00 in a report on Thursday, June 8th. Bank of America reduced their target price on shares of Avery Dennison from $207.00 to $189.00 in a report on Monday, July 10th. Finally, StockNews.com started coverage on shares of Avery Dennison in a report on Thursday. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.11.
Insider Activity
In other news, insider Francisco Melo sold 4,800 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $186.00, for a total value of $892,800.00. Following the transaction, the insider now directly owns 16,905 shares of the company’s stock, valued at $3,144,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.
Avery Dennison Stock Performance
Shares of AVY stock opened at $177.15 on Friday. The stock has a market cap of $14.27 billion, a P/E ratio of 25.53, a P/E/G ratio of 3.17 and a beta of 0.95. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.09 and a quick ratio of 0.71. The company has a fifty day moving average price of $175.88 and a two-hundred day moving average price of $175.37. Avery Dennison Co. has a one year low of $157.28 and a one year high of $199.91.
Avery Dennison (NYSE:AVY – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.13). The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.17 billion. Avery Dennison had a net margin of 6.66% and a return on equity of 31.13%. The business’s revenue was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.64 EPS. As a group, equities analysts predict that Avery Dennison Co. will post 8.04 EPS for the current year.
Avery Dennison Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, September 5th. Avery Dennison’s dividend payout ratio is currently 46.69%.
About Avery Dennison
Avery Dennison Corporation operates as materials science and digital identification solutions company. It provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and various converted products and solutions. The company designs and manufactures a range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance.
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