Gradient Investments LLC Increases Stock Position in Avery Dennison Co. (NYSE:AVY)

Gradient Investments LLC boosted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 68,310 shares of the industrial products company’s stock after acquiring an additional 501 shares during the quarter. Gradient Investments LLC’s holdings in Avery Dennison were worth $12,783,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after purchasing an additional 157,754 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after acquiring an additional 90,250 shares in the last quarter. World Investment Advisors LLC grew its stake in shares of Avery Dennison by 2,629.0% during the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after acquiring an additional 88,491 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Avery Dennison by 12.4% during the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after acquiring an additional 46,390 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Avery Dennison by 72.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 96,889 shares of the industrial products company’s stock valued at $21,389,000 after purchasing an additional 40,824 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Truist Financial dropped their target price on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets cut their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Bank of America lowered their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, UBS Group dropped their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.05.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Avery Dennison Trading Down 1.0 %

Shares of Avery Dennison stock opened at $191.33 on Friday. The firm has a 50-day simple moving average of $194.09 and a two-hundred day simple moving average of $207.06. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison Co. has a fifty-two week low of $181.99 and a fifty-two week high of $233.48. The company has a market cap of $15.37 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. Avery Dennison’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $2.10 earnings per share. As a group, equities analysts predict that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

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.