Choreo LLC Makes New $1.18 Million Investment in Avery Dennison Co. (NYSE:AVY)

Choreo LLC bought a new position in shares of Avery Dennison Co. (NYSE:AVY) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,847 shares of the industrial products company’s stock, valued at approximately $1,182,000.

A number of other large investors also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in Avery Dennison in the 3rd quarter valued at approximately $4,019,000. Xponance Inc. increased its position in shares of Avery Dennison by 1.5% during the 3rd quarter. Xponance Inc. now owns 14,379 shares of the industrial products company’s stock valued at $2,627,000 after purchasing an additional 207 shares during the period. Tectonic Advisors LLC acquired a new position in shares of Avery Dennison during the 3rd quarter valued at $239,000. Raymond James & Associates increased its position in shares of Avery Dennison by 29.6% during the 3rd quarter. Raymond James & Associates now owns 249,085 shares of the industrial products company’s stock valued at $45,500,000 after purchasing an additional 56,826 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Avery Dennison by 13.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,096 shares of the industrial products company’s stock valued at $4,584,000 after purchasing an additional 2,976 shares during the period. Institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

AVY has been the topic of several research analyst reports. Raymond James reiterated an “outperform” rating and set a $240.00 price target (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. UBS Group raised their price objective on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Bank of America lowered Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective for the company. in a research note on Tuesday, January 2nd. Truist Financial raised their price objective on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $224.00.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $217.28 on Wednesday. The stock has a market cap of $17.50 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. The business has a fifty day simple moving average of $216.05 and a 200-day simple moving average of $201.07. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $225.26.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.16. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 earnings per share. On average, sell-side analysts anticipate that Avery Dennison Co. will post 9.26 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be given a dividend of $0.88 per share. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.62%. Avery Dennison’s dividend payout ratio (DPR) is presently 47.30%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now owns 2,843 shares in the company, valued at $606,383.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,879 shares of company stock valued at $4,217,705. Insiders own 1.10% of the company’s stock.

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.