Avery Dennison Co. (NYSE:AVY) Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Avery Dennison Co. (NYSE:AVYFree Report) by 15.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 16,203 shares of the industrial products company’s stock after buying an additional 2,124 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Avery Dennison were worth $2,960,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Avery Dennison by 3.5% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,587 shares of the industrial products company’s stock valued at $273,000 after buying an additional 54 shares during the last quarter. New York Life Investment Management LLC raised its holdings in Avery Dennison by 0.5% during the third quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock worth $2,092,000 after purchasing an additional 58 shares in the last quarter. Signaturefd LLC raised its holdings in Avery Dennison by 25.5% during the third quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 61 shares in the last quarter. Advisor Partners II LLC raised its holdings in Avery Dennison by 1.9% during the third quarter. Advisor Partners II LLC now owns 3,342 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 63 shares in the last quarter. Finally, Yousif Capital Management LLC raised its holdings in Avery Dennison by 0.5% during the first quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock worth $2,215,000 after purchasing an additional 65 shares in the last quarter. 91.09% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Up 1.0 %

AVY stock opened at $206.81 on Tuesday. The company’s 50 day simple moving average is $198.78 and its 200-day simple moving average is $188.45. The firm has a market capitalization of $16.65 billion, a PE ratio of 33.30, a P/E/G ratio of 3.13 and a beta of 0.90. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $208.46. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69.

Avery Dennison (NYSE:AVYGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting the consensus estimate of $2.16. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.65 earnings per share. Equities analysts expect that Avery Dennison Co. will post 9.33 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, March 5th. Avery Dennison’s payout ratio is 52.17%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and increased their price target for the stock from $197.00 to $214.00 in a report on Wednesday, January 3rd. Bank of America cut shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target for the company. in a report on Tuesday, January 2nd. JPMorgan Chase & Co. upped their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. UBS Group upped their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Truist Financial restated a “buy” rating and set a $249.00 target price on shares of Avery Dennison in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.78.

Read Our Latest Analysis on AVY

Insider Activity at Avery Dennison

In related news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the transaction, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

About Avery Dennison

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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