First Hawaiian Bank Sells 291 Shares of Avery Dennison Co. (NYSE:AVY)

First Hawaiian Bank cut its holdings in Avery Dennison Co. (NYSE:AVY) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,335 shares of the industrial products company’s stock after selling 291 shares during the period. First Hawaiian Bank’s holdings in Avery Dennison were worth $3,057,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC lifted its position in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of Avery Dennison during the 3rd quarter valued at about $36,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison in the 3rd quarter worth approximately $39,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Avery Dennison during the 2nd quarter valued at $42,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after buying an additional 238 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock traded up $0.98 during trading hours on Wednesday, reaching $187.67. The company’s stock had a trading volume of 378,509 shares, compared to its average volume of 644,812. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. Avery Dennison Co. has a one year low of $181.99 and a one year high of $233.48. The firm has a 50 day moving average price of $197.84 and a 200-day moving average price of $209.60. The stock has a market cap of $15.08 billion, a P/E ratio of 22.53, a P/E/G ratio of 1.52 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 earnings per share. On average, analysts predict that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is 42.26%.

Analysts Set New Price Targets

Several brokerages have recently commented on AVY. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. BMO Capital Markets lowered their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays reduced their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Truist Financial dropped their target price on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a research report on Monday. Finally, Citigroup reduced 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. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and an average price target of $237.60.

Insider Buying and Selling at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.