Proficio Capital Partners LLC Acquires Shares of 68,029 Avery Dennison Co. (NYSE:AVY)

Proficio Capital Partners LLC bought a new position in shares of Avery Dennison Co. (NYSE:AVY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 68,029 shares of the industrial products company’s stock, valued at approximately $12,730,000. Proficio Capital Partners LLC owned about 0.08% of Avery Dennison at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AVY. Larson Financial Group LLC boosted its stake 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 worth $31,000 after buying an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Avery Dennison in the 3rd quarter worth $36,000. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison during the 4th quarter valued at about $37,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison in the third quarter valued at about $39,000. Finally, Spire Wealth Management increased its position in 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 last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVY. Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. 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 report on Friday, January 31st. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research note on Monday, February 3rd. Robert W. Baird set a $220.00 price target on Avery Dennison in a research note on Friday, January 31st. Finally, UBS Group cut their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $222.51.

Avery Dennison Stock Performance

NYSE AVY opened at $188.07 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company has a market cap of $15.11 billion, a P/E ratio of 21.57, a P/E/G ratio of 2.07 and a beta of 0.89. The stock has a 50-day moving average of $186.69 and a two-hundred day moving average of $201.83. Avery Dennison Co. has a 1-year low of $178.72 and a 1-year high of $233.48.

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

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is currently 40.37%.

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.