Taylor Frigon Capital Management LLC Has $1.22 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Taylor Frigon Capital Management LLC decreased its stake in shares of Avery Dennison Co. (NYSE:AVY) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,542 shares of the industrial products company’s stock after selling 61 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Avery Dennison were worth $1,224,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after purchasing an additional 157,754 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after buying an additional 90,250 shares during the period. Bank of New York Mellon Corp increased its position in Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after buying an additional 134,560 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Avery Dennison by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after buying an additional 3,118 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Avery Dennison by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock worth $151,975,000 after acquiring an additional 1,782 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citigroup lowered their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Truist Financial restated a “buy” rating and set a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price target on Avery Dennison in a research note on Monday, February 3rd. Three equities research 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 company has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Trading Down 0.4 %

Shares of AVY stock opened at $185.64 on Thursday. Avery Dennison Co. has a 12-month low of $178.72 and a 12-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. The company has a 50 day moving average of $186.71 and a 200-day moving average of $202.13. The firm has a market cap of $14.92 billion, a P/E ratio of 21.29, a PEG ratio of 2.07 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Sell-side analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.90%. Avery Dennison’s dividend payout ratio is 40.37%.

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.