Avery Dennison Co. (NYSE:AVY) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 53.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,517 shares of the industrial products company’s stock after selling 16,819 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Avery Dennison were worth $2,935,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AVY. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Avery Dennison during the third quarter valued at $32,000. Milestone Investment Advisors LLC bought a new position in Avery Dennison during the third quarter valued at about $36,000. Anchor Investment Management LLC bought a new position in Avery Dennison during the fourth quarter valued at about $42,000. Adirondack Trust Co. bought a new position in Avery Dennison during the third quarter valued at about $55,000. Finally, Signaturefd LLC boosted its stake in Avery Dennison by 25.5% during the third quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock valued at $55,000 after buying an additional 61 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Stock Up 0.1 %

Shares of Avery Dennison stock opened at $211.77 on Tuesday. The stock has a 50-day moving average price of $215.07 and a 200 day moving average price of $199.73. The company has a market cap of $17.05 billion, a P/E ratio of 34.10, a P/E/G ratio of 3.27 and a beta of 0.90. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $225.26.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.65 EPS. As a group, analysts expect that Avery Dennison Co. will post 9.26 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Tuesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 52.17%.

Insider Transactions at Avery Dennison

In other news, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock valued at $4,217,705 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Raymond James raised their target price on Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Bank of America cut Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price for the company. in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. raised their target price on Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Citigroup increased their price target on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Finally, Truist Financial reiterated a “buy” rating and issued a $249.00 price target on shares of Avery Dennison in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.00.

Avery Dennison 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.