Running Oak Capital LLC Boosts Stock Position in Avery Dennison Co. (NYSE:AVY)

Running Oak Capital LLC lifted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 13.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,830 shares of the industrial products company’s stock after purchasing an additional 7,572 shares during the quarter. Running Oak Capital LLC’s holdings in Avery Dennison were worth $11,945,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AVY. Nordea Investment Management AB lifted its holdings in shares of Avery Dennison by 485.2% in the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after buying an additional 29,541 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Avery Dennison by 6.8% during the 3rd 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 during the period. Icon Wealth Advisors LLC lifted its stake in Avery Dennison by 553.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock worth $693,000 after purchasing an additional 2,657 shares in the last quarter. Meyer Handelman Co. bought a new position in Avery Dennison in the 4th quarter valued at $4,263,000. Finally, JPMorgan Chase & Co. grew its position in shares of Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after purchasing an additional 46,390 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY stock opened at $191.33 on Friday. 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 capitalization of $15.37 billion, a P/E ratio of 22.97, a PEG ratio of 1.36 and a beta of 0.89. The stock has a 50 day moving average price of $194.09 and a two-hundred day moving average price of $207.02.

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

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BMO Capital Markets dropped their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Citigroup lowered their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Finally, Truist Financial decreased their price objective on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and eight 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 target price of $235.05.

Avery Dennison 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.