Cookson Peirce & Co. Inc. Grows Position in Avery Dennison Co. (NYSE:AVY)

Cookson Peirce & Co. Inc. grew its stake in Avery Dennison Co. (NYSE:AVY) by 11.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,520 shares of the industrial products company’s stock after purchasing an additional 258 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Avery Dennison were worth $509,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AVY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Avery Dennison by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,078 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 686 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Avery Dennison by 28.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,710 shares of the industrial products company’s stock valued at $8,530,000 after buying an additional 10,370 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Avery Dennison by 0.5% during the 1st quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock valued at $2,215,000 after buying an additional 65 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Avery Dennison by 61.4% during the 1st quarter. Raymond James Trust N.A. now owns 4,968 shares of the industrial products company’s stock valued at $864,000 after buying an additional 1,889 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Avery Dennison by 2.2% during the 1st quarter. Blair William & Co. IL now owns 8,215 shares of the industrial products company’s stock valued at $1,429,000 after buying an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In other news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares in the company, valued at approximately $606,383.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares in the company, valued at approximately $606,383.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,879 shares of company stock worth $4,217,705. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVY has been the topic of a number of recent analyst reports. Citigroup increased their target price on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Bank of America lowered Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price on the stock. in a research report on Tuesday, January 2nd. Raymond James increased their price objective on Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. UBS Group increased their price objective on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Truist Financial reissued a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.00.

Avery Dennison Stock Down 0.1 %

Shares of AVY opened at $211.11 on Wednesday. Avery Dennison Co. has a 52-week low of $158.93 and a 52-week high of $225.26. The company has a market capitalization of $17.00 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 3.25 and a beta of 0.90. The stock has a fifty day simple moving average of $214.59 and a two-hundred day simple moving average of $198.92. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the company earned $1.65 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that Avery Dennison Co. will post 9.28 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s dividend payout ratio is presently 52.17%.

About Avery Dennison

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.