AEGON ASSET MANAGEMENT UK Plc Reduces Stock Holdings in Avery Dennison Co. (NYSE:AVY)

AEGON ASSET MANAGEMENT UK Plc lessened its stake in shares of Avery Dennison Co. (NYSE:AVY) by 7.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 95,068 shares of the industrial products company’s stock after selling 7,454 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Avery Dennison were worth $17,782,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its position in Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after acquiring an additional 157,754 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after purchasing an additional 90,250 shares during the last quarter. Meridiem Investment Management Ltd. boosted its position in shares of Avery Dennison by 0.7% in the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after purchasing an additional 5,756 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Avery Dennison by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after buying an additional 3,118 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Avery Dennison by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock worth $151,975,000 after buying an additional 1,782 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY stock opened at $191.33 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The stock has a 50 day simple moving average of $194.09 and a 200-day simple moving average of $207.06. The company has a market cap of $15.37 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89. Avery Dennison Co. has a 12-month low of $181.99 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.01. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. Avery Dennison’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 earnings per share. On average, equities analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current year.

Analyst Upgrades and Downgrades

AVY has been the subject of several research analyst reports. Barclays decreased their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup reduced their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. BMO Capital Markets lowered their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Truist Financial decreased their price objective on Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.05.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Avery Dennison 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.