Chevy Chase Trust Holdings LLC Has $9.97 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Avery Dennison Co. (NYSE:AVY) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,671 shares of the industrial products company’s stock after selling 414 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of Avery Dennison worth $9,973,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AVY. Morgan Stanley increased its holdings in Avery Dennison by 55.7% in the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after buying an additional 639,521 shares during the period. Comerica Bank bought a new stake in Avery Dennison in the 3rd quarter valued at $16,800,000. Anchor Investment Management LLC bought a new stake in Avery Dennison in the 4th quarter valued at $42,000. Diversified Trust Co grew its holdings in Avery Dennison by 0.6% during the 4th quarter. Diversified Trust Co now owns 12,985 shares of the industrial products company’s stock worth $2,625,000 after acquiring an additional 83 shares during the last quarter. Finally, Dfpg Investments LLC grew its holdings in Avery Dennison by 12.5% during the 4th quarter. Dfpg Investments LLC now owns 1,426 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 159 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Avery Dennison

In related news, SVP Deena Baker-Nel sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total value of $684,510.00. Following the completion of the transaction, the senior vice president now directly owns 1,577 shares of the company’s stock, valued at $359,824.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Avery Dennison news, insider Ryan D. Yost sold 149 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $226.38, for a total transaction of $33,730.62. Following the completion of the sale, the insider now owns 2,110 shares of the company’s stock, valued at approximately $477,661.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deena Baker-Nel sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total value of $684,510.00. Following the sale, the senior vice president now directly owns 1,577 shares of the company’s stock, valued at approximately $359,824.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,583 shares of company stock valued at $2,856,353. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Stock Up 1.2 %

NYSE AVY traded up $2.49 during trading hours on Wednesday, reaching $215.49. 142,550 shares of the company’s stock were exchanged, compared to its average volume of 438,817. The company’s 50-day moving average is $224.12 and its two-hundred day moving average is $214.37. Avery Dennison Co. has a one year low of $165.21 and a one year high of $231.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 1.98 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.14. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.15 billion. On average, analysts forecast that Avery Dennison Co. will post 9.32 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, June 5th were paid a $0.88 dividend. The ex-dividend date was Wednesday, June 5th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 annualized dividend and a dividend yield of 1.63%. Avery Dennison’s dividend payout ratio (DPR) is currently 51.39%.

Analyst Upgrades and Downgrades

AVY has been the topic of a number of research reports. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research report on Tuesday. They set a “buy” rating and a $274.60 target price on the stock. Raymond James restated an “outperform” rating and set a $240.00 target price (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Citigroup upped their target price on shares of Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a research report on Monday. Truist Financial upped their target price on shares of Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Robert W. Baird upped their target price on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $237.15.

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.