Avery Dennison Co. (NYSE:AVY) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd cut its stake in shares of Avery Dennison Co. (NYSE:AVY) by 2.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 30,700 shares of the industrial products company’s stock after selling 815 shares during the period. Cumberland Partners Ltd’s holdings in Avery Dennison were worth $5,657,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AVY. CWM LLC raised its position in Avery Dennison by 60.5% during the third quarter. CWM LLC now owns 5,595 shares of the industrial products company’s stock worth $1,022,000 after acquiring an additional 2,110 shares during the period. SG Americas Securities LLC raised its position in shares of Avery Dennison by 39.3% in the third quarter. SG Americas Securities LLC now owns 20,197 shares of the industrial products company’s stock valued at $3,689,000 after buying an additional 5,703 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Avery Dennison by 2.6% in the third quarter. Avior Wealth Management LLC now owns 2,971 shares of the industrial products company’s stock valued at $543,000 after buying an additional 74 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Avery Dennison by 38.3% in the third quarter. Exchange Traded Concepts LLC now owns 3,298 shares of the industrial products company’s stock valued at $602,000 after buying an additional 914 shares during the last quarter. Finally, Richelieu Gestion SA raised its position in shares of Avery Dennison by 6.7% in the third quarter. Richelieu Gestion SA now owns 9,083 shares of the industrial products company’s stock valued at $1,659,000 after buying an additional 570 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AVY shares. JPMorgan Chase & Co. increased their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Truist Financial reissued a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday. Raymond James upped their price objective on shares of Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, UBS Group upped their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.00.

Insider Activity at Avery Dennison

In related news, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares in the company, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock valued at $4,217,705 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Trading Down 0.2 %

AVY stock traded down $0.44 during mid-day trading on Tuesday, hitting $211.33. 841,174 shares of the company were exchanged, compared to its average volume of 436,507. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $17.02 billion, a P/E ratio of 34.00, a PEG ratio of 3.27 and a beta of 0.90. The business has a fifty day simple moving average of $215.07 and a 200-day simple moving average of $199.73. Avery Dennison Co. has a 12-month low of $158.93 and a 12-month high of $225.26.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting the consensus estimate of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Avery Dennison Co. will post 9.26 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 annualized dividend and a yield of 1.53%. Avery Dennison’s dividend payout ratio (DPR) is 52.17%.

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.