Vontobel Holding Ltd. Grows Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Vontobel Holding Ltd. increased its stake in Avery Dennison Co. (NYSE:AVY) by 6.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,284 shares of the industrial products company’s stock after purchasing an additional 77 shares during the quarter. Vontobel Holding Ltd.’s holdings in Avery Dennison were worth $283,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in AVY. Innealta Capital LLC bought a new position in Avery Dennison in the second quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Avery Dennison during the 2nd quarter valued at about $42,000. 1620 Investment Advisors Inc. purchased a new stake in Avery Dennison in the 2nd quarter worth approximately $51,000. Palisade Asset Management LLC purchased a new position in Avery Dennison during the first quarter valued at approximately $64,000. Finally, Versant Capital Management Inc lifted its holdings in Avery Dennison by 936.7% during the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 281 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on AVY shares. Truist Financial raised their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $252.00 price objective (down previously from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Barclays started coverage on Avery Dennison in a research note on Monday, October 7th. They set an “overweight” rating and a $250.00 target price on the stock. Stifel Nicolaus started coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target for the company. Finally, UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $246.78.

Avery Dennison Price Performance

AVY stock opened at $212.45 on Wednesday. The company has a fifty day simple moving average of $217.03 and a two-hundred day simple moving average of $218.70. Avery Dennison Co. has a 52 week low of $165.21 and a 52 week high of $233.48. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $17.11 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88.

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

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.66%. Avery Dennison’s payout ratio is presently 51.39%.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction 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 sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. 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 three months. 1.10% of the stock is owned by 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.