Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 75.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,200 shares of the industrial products company's stock after selling 37,552 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Avery Dennison were worth $2,283,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. VisionPoint Advisory Group LLC bought a new stake in shares of Avery Dennison in the fourth quarter worth approximately $68,000. Venturi Wealth Management LLC boosted its holdings in shares of Avery Dennison by 32.4% in the fourth quarter. Venturi Wealth Management LLC now owns 4,492 shares of the industrial products company's stock worth $841,000 after buying an additional 1,100 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Avery Dennison by 3.5% in the fourth quarter. CIBC Asset Management Inc now owns 16,148 shares of the industrial products company's stock worth $3,022,000 after buying an additional 553 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Avery Dennison by 127.6% in the fourth quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company's stock worth $373,000 after buying an additional 1,097 shares during the last quarter. Finally, Figure 8 Investment Strategies LLC purchased a new position in shares of Avery Dennison in the fourth quarter worth approximately $1,461,000. 94.17% of the stock is currently owned by institutional investors.
A number of equities analysts recently issued reports on AVY shares. Bank of America dropped their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. Truist Financial reissued a "buy" rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup lowered their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Finally, Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Avery Dennison has an average rating of "Moderate Buy" and an average target price of $222.51.
Check Out Our Latest Stock Analysis on AVY
AVY stock opened at $185.64 on Thursday. Avery Dennison Co. has a one year low of $178.72 and a one year high of $233.48. The company's fifty day moving average price is $186.71 and its 200-day moving average price is $202.13. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The company has a market capitalization of $14.92 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89.
Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison's dividend payout ratio is presently 40.37%.
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.
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