Congress Wealth Management LLC DE Raises Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Congress Wealth Management LLC DE grew its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,618 shares of the industrial products company’s stock after buying an additional 1,654 shares during the period. Congress Wealth Management LLC DE owned 0.09% of Avery Dennison worth $15,766,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AVY. Alliance Wealth Advisors LLC UT increased its holdings in shares of Avery Dennison by 1.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock valued at $776,000 after acquiring an additional 56 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of Avery Dennison by 5.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock worth $242,000 after buying an additional 57 shares in the last quarter. Condor Capital Management grew its holdings in shares of Avery Dennison by 0.4% during the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock valued at $2,773,000 after buying an additional 60 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in Avery Dennison by 5.3% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,228 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 62 shares during the last quarter. Finally, Czech National Bank lifted its position in Avery Dennison by 0.5% in the 1st quarter. Czech National Bank now owns 14,169 shares of the industrial products company’s stock valued at $3,163,000 after acquiring an additional 64 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Activity at Avery Dennison

In other news, CFO Gregory Lovins sold 2,894 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $227.20, for a total transaction of $657,516.80. Following the transaction, the chief financial officer now owns 67,457 shares of the company’s stock, valued at $15,326,230.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $227.20, for a total value of $657,516.80. Following the sale, the chief financial officer now owns 67,457 shares in the company, valued at $15,326,230.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Yost sold 584 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total transaction of $129,245.04. Following the completion of the transaction, the insider now owns 2,259 shares in the company, valued at $499,939.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,583 shares of company stock worth $2,856,353. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AVY. Argus upped their price target on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Truist Financial lifted their price target on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Citigroup increased their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Robert W. Baird boosted their target price on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Finally, JPMorgan Chase & Co. raised their price target on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.50.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $213.38 on Tuesday. The stock has a market cap of $17.19 billion, a P/E ratio of 31.15, a P/E/G ratio of 2.01 and a beta of 0.88. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. The stock’s fifty day moving average is $224.17 and its 200 day moving average is $213.73. Avery Dennison Co. has a one year low of $165.21 and a one year high of $231.53.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.15 by $0.14. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. Sell-side analysts anticipate that Avery Dennison Co. will post 9.32 earnings per share for the current year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were paid a $0.88 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.65%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio is currently 51.39%.

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.