Savant Capital LLC Grows Stock Position in Avery Dennison Co. (NYSE:AVY)

Savant Capital LLC increased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,636 shares of the industrial products company’s stock after buying an additional 86 shares during the quarter. Savant Capital LLC’s holdings in Avery Dennison were worth $680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AVY. Geode Capital Management LLC lifted its position in Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after purchasing an additional 90,250 shares during the period. World Investment Advisors LLC lifted its stake in shares of Avery Dennison by 2,629.0% in the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after purchasing an additional 88,491 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Avery Dennison by 12.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after purchasing an additional 46,390 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Avery Dennison by 72.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 96,889 shares of the industrial products company’s stock valued at $21,389,000 after purchasing an additional 40,824 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

AVY stock opened at $181.76 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48. The stock’s 50 day moving average is $188.58 and its two-hundred day moving average is $203.48. The company has a market capitalization of $14.60 billion, a PE ratio of 20.84, a P/E/G ratio of 2.04 and a beta of 0.89.

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

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.94%. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Wall Street Analyst Weigh In

AVY has been the topic of several research analyst reports. 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. Citigroup reduced their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Raymond James reaffirmed an “outperform” rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets reduced their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $227.15.

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.