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Shares of Avery Dennison Co. (NYSE:AVY) purchased by US Bancorp DE


US Bancorp DE has sold its interest in shares of Avery Dennison Co. (NYSE:AVY – Free Report) increased 26.6% during the fourth quarter, the company said in its most recent filing with the Securities & Exchange Commission. The company owned 36,985 shares of the industrial products company after acquiring another 7,766 shares during the quarter. US Bancorp DE’s holdings in Avery Dennison were worth $7,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Alliance Wealth Advisors LLC UT increased its holdings in Avery Dennison by 1.5% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock worth $776,000 after acquiring an additional 56 shares during the period. First Trust Direct Indexing LP increased its position in Avery Dennison by 5.0% in the fourth quarter. First Trust Direct Indexing LP now owns 1,198 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 57 shares last quarter. New York Life Investment Management LLC increased its position in Avery Dennison by 0.5% in the third quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock worth $2,092,000 after purchasing an additional 58 shares during the last quarter. Signaturefd LLC grew its position in Avery Dennison by 25.5% in the third quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 61 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its position in Avery Dennison by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,228 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s shares.

Avery Dennison shares rise 0.0%

AVY stock opened at $227.05 on Tuesday. Avery Dennison Co. has a 12-month low of $158.93 and a 12-month high of $229.98. The company has a market cap of $18.29 billion, a price-to-earnings ratio of 33.15, a price-to-earnings ratio of 2.09, and a beta of 0.91. The company has a 50-day simple moving average of $219.78 and a 200-day simple moving average of $207.65. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58.

Avery Dennison (NYSE:AVY – Get Free Report) last reported its earnings results on Wednesday, April 24. The industrial products company reported $2.29 earnings per share for the quarter, beating 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 analyst estimates of $2.15 billion. Equity research analysts predict that Avery Dennison Co. will post a profit per share of 9.32 for the current financial year.

Avery Dennison increases dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20. Investors of record on Wednesday, June 5 will receive a dividend of $0.88 per share. The ex-dividend date is Wednesday, June 5. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. This represents a dividend of $3.52 annually and a yield of 1.55%. Avery Dennison’s dividend payout ratio currently stands at 51.39%.

Wall Street analysts predict growth

AVY has been the subject of several recent analyst reports. Raymond James reiterated an “outperform” rating and issued a $240.00 target price (previously $225.00) on shares of Avery Dennison in a research report on Thursday, April 25. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Argus raised their target price on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8. Robert W. Baird raised their target price on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, April 25. Finally, Citigroup raised their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a report on Thursday, April 4. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $228.50.

Read our latest report on Avery Dennison

Insider activity at Avery Dennison

In related news, SVP Deena Baker-Nel sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 23. The shares were sold at an average price of $228.17, for a total transaction of $684,510.00. Following the completion of the sale, 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 SEC, which can be accessed through the SEC website. In related news, SVP Deena Baker-Nel sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23. The shares sold at an average price of $228.17, for a total value of $684,510.00. Following the completion of the sale, the senior vice president now owns 1,577 shares of the company’s stock, valued at approximately $359,824.09. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The explanation of this sale can be found here. Insiders have sold a total of 19,212 shares of the company’s stock, worth $4,267,279, over the last ninety days. Insiders own 1.10% of the company’s shares.

Avery Dennison company profile

(Free report)

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, the Americas and internationally. It supplies pressure-sensitive materials including paper, plastic films, metal foils and fabrics; performance tape products, including cable bundle tapes, as well as cable wraps 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.

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Quarterly Institutional Ownership for Avery Dennison (NYSE:AVY)



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