TD Private Client Wealth LLC Raises Stake in Avery Dennison Co. (NYSE:AVY)

TD Private Client Wealth LLC grew its stake in Avery Dennison Co. (NYSE:AVY) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 972 shares of the industrial products company’s stock after purchasing an additional 83 shares during the period. TD Private Client Wealth LLC’s holdings in Avery Dennison were worth $182,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AVY. Larson Financial Group LLC increased its stake in 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 buying an additional 71 shares during the period. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison during the fourth quarter worth about $37,000. Brooklyn Investment Group purchased a new position in Avery Dennison during the third quarter worth about $66,000. Spire Wealth Management lifted its position in Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.84% of the company’s stock.

Avery Dennison Price Performance

AVY stock opened at $175.38 on Wednesday. The stock’s 50 day moving average price is $184.10 and its 200 day moving average price is $197.31. The firm has a market cap of $13.85 billion, a P/E ratio of 20.11, a PEG ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a 1 year low of $173.02 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data 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%. On average, sell-side analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.01%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVY. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research note on Monday, February 3rd. Barclays reduced their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Truist Financial reaffirmed a “buy” rating and set a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Bank of America reduced their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Avery Dennison 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.