Cypress Capital Group Sells 1,031 Shares of Avery Dennison Co. (NYSE:AVY)

Cypress Capital Group lowered its position in shares of Avery Dennison Co. (NYSE:AVY) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,089 shares of the industrial products company’s stock after selling 1,031 shares during the period. Cypress Capital Group’s holdings in Avery Dennison were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in AVY. Larson Financial Group LLC increased its stake in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the period. Kennebec Savings Bank bought a new position in shares of Avery Dennison during the third quarter worth approximately $36,000. Regents Gate Capital LLP bought a new position in shares of Avery Dennison during the fourth quarter worth approximately $37,000. Peterson Financial Group Inc. bought a new position in shares of Avery Dennison during the third quarter worth approximately $39,000. Finally, Spire Wealth Management increased its stake in shares of Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 130 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Down 2.6 %

Shares of AVY opened at $181.05 on Wednesday. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48. The business’s fifty day moving average is $186.47 and its 200-day moving average is $201.36. 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 firm has a market cap of $14.30 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 2.07 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AVY. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research note on Monday, February 3rd. Truist Financial restated a “buy” rating and set a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Citigroup lowered their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Robert W. Baird set a $220.00 price objective on Avery Dennison in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Company 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.