Anchor Capital Advisors LLC Has $34.62 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Anchor Capital Advisors LLC lessened its holdings in Avery Dennison Co. (NYSE:AVY) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 185,012 shares of the industrial products company’s stock after selling 6,404 shares during the period. Anchor Capital Advisors LLC’s holdings in Avery Dennison were worth $34,621,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its holdings in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new stake in Avery Dennison in the third quarter valued at approximately $36,000. Regents Gate Capital LLP bought a new stake in shares of Avery Dennison during the fourth quarter worth $37,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison during the third quarter worth $39,000. Finally, Spire Wealth Management increased its holdings in shares of Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AVY shares. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Raymond James restated 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. Truist Financial reiterated a “buy” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a report on Monday, February 3rd. Finally, Bank of America decreased their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Stock Down 0.2 %

Avery Dennison stock opened at $185.33 on Friday. The firm has a market cap of $14.89 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.07 and a beta of 0.89. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48. 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 firm has a 50 day moving average price of $186.69 and a two-hundred day moving average price of $202.01.

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

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.90%. Avery Dennison’s payout ratio is 40.37%.

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.