Caprock Group LLC Has $257,000 Holdings in Avery Dennison Co. (NYSE:AVY)

Caprock Group LLC boosted its holdings in Avery Dennison Co. (NYSE:AVY) by 15.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,176 shares of the industrial products company’s stock after buying an additional 161 shares during the quarter. Caprock Group LLC’s holdings in Avery Dennison were worth $257,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in Avery Dennison by 30.7% in the fourth quarter. QRG Capital Management Inc. now owns 3,682 shares of the industrial products company’s stock valued at $744,000 after buying an additional 864 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Avery Dennison during the fourth quarter valued at about $1,213,000. UBS Group AG boosted its stake in shares of Avery Dennison by 54.1% during the fourth quarter. UBS Group AG now owns 181,418 shares of the industrial products company’s stock valued at $36,675,000 after purchasing an additional 63,716 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Avery Dennison by 195.2% during the first quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after purchasing an additional 11,811 shares in the last quarter. Finally, Natixis boosted its stake in shares of Avery Dennison by 365.9% during the first quarter. Natixis now owns 4,552 shares of the industrial products company’s stock valued at $1,016,000 after purchasing an additional 3,575 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AVY. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Citigroup raised their price objective on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Truist Financial raised their price objective on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Robert W. Baird raised their price objective on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Finally, Stifel Nicolaus began coverage on Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus target price of $239.96.

Avery Dennison Trading Up 0.4 %

Shares of AVY stock opened at $219.42 on Friday. The company has a market cap of $17.67 billion, a P/E ratio of 32.03, a PEG ratio of 1.81 and a beta of 0.88. Avery Dennison Co. has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The stock has a 50 day simple moving average of $215.66 and a two-hundred day simple moving average of $218.80. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.26 by $0.16. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 earnings per share. Research analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.60%. Avery Dennison’s dividend payout ratio is 51.39%.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at $65,004,367.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $65,004,367.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock worth $12,545,087 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

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.