Handelsbanken Fonder AB Has $4.06 Million Position in Avery Dennison Co. (NYSE:AVY)

Handelsbanken Fonder AB cut its stake in Avery Dennison Co. (NYSE:AVY) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,700 shares of the industrial products company’s stock after selling 900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Avery Dennison were worth $4,061,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AVY. Larson Financial Group LLC boosted its stake in shares of Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of Avery Dennison in the 3rd quarter valued at approximately $36,000. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison in the 4th quarter valued at approximately $37,000. Peterson Financial Group Inc. acquired a new stake in Avery Dennison during the 3rd quarter worth approximately $39,000. Finally, Spire Wealth Management boosted its position in Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after buying an additional 130 shares during the period. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Performance

NYSE:AVY opened at $184.34 on Monday. The stock has a market cap of $14.81 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 2.06 and a beta of 0.89. The firm’s fifty day simple moving average is $187.01 and its 200 day simple moving average is $202.56. Avery Dennison Co. has a twelve month low of $178.72 and a twelve month high of $233.48. 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 announced its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is presently 40.37%.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Bank of America dropped their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. UBS Group lowered their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Truist Financial restated a “buy” rating and set a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $222.51.

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.