Bradley Foster & Sargent Inc. CT Decreases Position in Avery Dennison Co. (NYSE:AVY)

Bradley Foster & Sargent Inc. CT lessened its stake in Avery Dennison Co. (NYSE:AVY) by 48.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,419 shares of the industrial products company’s stock after selling 2,298 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Avery Dennison were worth $453,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Avery Dennison by 19.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,639 shares of the industrial products company’s stock valued at $1,024,000 after buying an additional 764 shares during the last quarter. Eastern Bank bought a new stake in Avery Dennison in the 3rd quarter valued at about $86,000. Private Advisor Group LLC lifted its holdings in Avery Dennison by 2.7% during the third quarter. Private Advisor Group LLC now owns 12,488 shares of the industrial products company’s stock valued at $2,757,000 after purchasing an additional 328 shares during the last quarter. International Assets Investment Management LLC bought a new position in Avery Dennison during the third quarter worth about $36,550,000. Finally, IFM Investors Pty Ltd increased its stake in shares of Avery Dennison by 28.3% in the third quarter. IFM Investors Pty Ltd now owns 23,185 shares of the industrial products company’s stock worth $5,118,000 after purchasing an additional 5,119 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AVY. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research report on Monday, February 3rd. Truist Financial reaffirmed a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Finally, Bank of America cut their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $184.34 on Friday. The stock’s 50-day simple moving average is $187.01 and its two-hundred day simple moving average is $202.58. Avery Dennison Co. has a twelve month low of $178.72 and a twelve month high of $233.48. The firm has a market capitalization of $14.81 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.06 and a beta of 0.89. 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 (NYSE:AVY) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. As a group, equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is currently 40.37%.

Insider Buying and Selling

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction 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 $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company 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.