Callan Family Office LLC Makes New $383,000 Investment in Avery Dennison Co. (NYSE:AVY)

Callan Family Office LLC bought a new stake in shares of Avery Dennison Co. (NYSE:AVY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,049 shares of the industrial products company’s stock, valued at approximately $383,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after buying 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 approximately $36,000. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison during the 4th quarter valued at approximately $37,000. Peterson Financial Group Inc. purchased a new position in shares of Avery Dennison during the 3rd quarter valued at approximately $39,000. Finally, Spire Wealth Management raised its stake in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AVY. Robert W. Baird set a $220.00 price objective on Avery Dennison in a research note on Friday, January 31st. Bank of America reduced their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Citigroup reduced their price objective on 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. 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. Finally, Barclays reduced their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Stock Up 1.6 %

Shares of NYSE:AVY opened at $186.80 on Tuesday. The business has a 50-day moving average price of $186.11 and a 200 day moving average price of $200.52. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 12-month low of $178.72 and a 12-month high of $233.48.

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

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

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.