Avery Dennison Co. (NYSE:AVY) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its position in Avery Dennison Co. (NYSE:AVY) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,558 shares of the industrial products company’s stock after purchasing an additional 106 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Avery Dennison were worth $2,350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position 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 during the period. Bank of New York Mellon Corp lifted its position in Avery Dennison by 21.4% in the fourth 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 purchasing an additional 134,560 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Avery Dennison by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after purchasing an additional 3,118 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Avery Dennison by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company’s stock valued at $130,821,000 after purchasing an additional 10,674 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Avery Dennison by 0.8% in the third quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company’s stock valued at $136,338,000 after purchasing an additional 4,670 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVY. Citigroup dropped their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Bank of America dropped their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a report on Monday, February 3rd. Truist Financial reaffirmed a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, UBS Group dropped 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. Three 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction 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 transaction, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Stock Down 1.3 %

AVY stock opened at $176.77 on Friday. The stock has a market capitalization of $13.96 billion, a P/E ratio of 20.27, 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 one year low of $174.91 and a one year high of $233.48. The company has a 50 day moving average price of $184.80 and a two-hundred day moving average price of $198.52.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS 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, sell-side analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.99%. Avery Dennison’s payout ratio is currently 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.