Howard Bailey Securities LLC Raises Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Howard Bailey Securities LLC increased its holdings in Avery Dennison Co. (NYSE:AVY) by 41.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,134 shares of the industrial products company’s stock after purchasing an additional 627 shares during the period. Howard Bailey Securities LLC’s holdings in Avery Dennison were worth $399,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in shares of Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares during the last quarter. Kennebec Savings Bank purchased a new stake in Avery Dennison during the 3rd quarter valued at $36,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison during the 3rd quarter valued at $39,000. Regents Gate Capital LLP bought a new stake in Avery Dennison in the fourth quarter worth $37,000. Finally, Raleigh Capital Management Inc. increased its position in Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY opened at $181.13 on Thursday. Avery Dennison Co. has a one year low of $178.72 and a one year high of $233.48. The stock has a market cap of $14.55 billion, a P/E ratio of 20.77, a P/E/G ratio of 2.04 and a beta of 0.89. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The stock has a 50-day moving average of $189.87 and a two-hundred day moving average of $204.09.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Insider Buying and Selling

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVY. Raymond James reiterated an “outperform” rating and set a $208.00 price target (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. BMO Capital Markets cut their price objective 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. Citigroup lowered their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Barclays decreased their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Truist Financial restated a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus target price of $227.15.

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.