Schroder Investment Management Group Increases Position in Avery Dennison Co. (NYSE:AVY)

Schroder Investment Management Group raised its position in shares of Avery Dennison Co. (NYSE:AVY) by 34.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 378,060 shares of the industrial products company’s stock after purchasing an additional 96,428 shares during the period. Schroder Investment Management Group owned approximately 0.47% of Avery Dennison worth $70,788,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison during the 4th quarter valued at about $37,000. Spire Wealth Management raised 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 acquiring an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC bought a new stake in shares of Avery Dennison in the 4th quarter worth approximately $68,000. AdvisorNet Financial Inc boosted its stake in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 58 shares in the last quarter. Finally, Assetmark Inc. raised its position in Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 73 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY opened at $178.05 on Tuesday. The company has a market cap of $14.06 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 2.07 and a beta of 0.85. The business’s fifty day simple moving average is $183.02 and its two-hundred day simple moving average is $196.14. Avery Dennison Co. has a 12 month low of $173.02 and a 12 month high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data 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 net margin of 8.05% and a return on equity of 33.06%. Research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.98%. Avery Dennison’s payout ratio is 40.37%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Truist Financial reissued 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. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research note on Monday, February 3rd. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a report on Friday, January 31st. Finally, Raymond James reiterated an “outperform” rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.51.

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.