Louisiana State Employees Retirement System Decreases Stock Position in Avery Dennison Co. (NYSE:AVY)

Louisiana State Employees Retirement System reduced its position in Avery Dennison Co. (NYSE:AVY) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,300 shares of the industrial products company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Avery Dennison were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC increased its position in Avery Dennison by 100.0% in 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 purchased a new position in shares of Avery Dennison in the third quarter valued at $36,000. Peterson Financial Group Inc. purchased a new position in shares of Avery Dennison in the third quarter valued at $39,000. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison in the fourth quarter valued at $37,000. Finally, Raleigh Capital Management Inc. grew its position in shares of Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 238 shares in the last quarter. 94.17% of the stock is 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 dated 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 owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Trading Up 1.1 %

Shares of AVY stock opened at $183.65 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The business has a 50-day moving average price of $188.14 and a two-hundred day moving average price of $203.16. Avery Dennison Co. has a 12-month low of $178.72 and a 12-month high of $233.48. The firm has a market cap of $14.76 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results 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%. Equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS 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. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Analysts Set New Price Targets

AVY has been the subject of several recent research reports. Barclays reduced their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average target price of $227.15.

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.