Louisiana State Employees Retirement System Sells 100 Shares of Avery Dennison Co. (NYSE:AVY)

Louisiana State Employees Retirement System decreased its position in Avery Dennison Co. (NYSE:AVY) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,600 shares of the industrial products company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Avery Dennison were worth $1,006,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in shares of Avery Dennison in the fourth quarter valued at approximately $185,292,000. Swedbank AB acquired a new stake in Avery Dennison during the 1st quarter valued at $102,117,000. Corient Private Wealth LLC raised its position in Avery Dennison by 1,429.4% in the 4th quarter. Corient Private Wealth LLC now owns 262,697 shares of the industrial products company’s stock valued at $53,107,000 after purchasing an additional 245,520 shares during the last quarter. Jennison Associates LLC acquired a new position in Avery Dennison in the first quarter worth $44,837,000. Finally, Schroder Investment Management Group grew its holdings in shares of Avery Dennison by 2,707.5% during the fourth quarter. Schroder Investment Management Group now owns 197,562 shares of the industrial products company’s stock worth $39,939,000 after purchasing an additional 190,525 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Ignacio J. Walker sold 2,206 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $226.70, for a total transaction of $500,100.20. Following the completion of the transaction, the senior vice president now owns 7,082 shares in the company, valued at $1,605,489.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction on Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,463 shares of company stock valued at $13,078,918. Company insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

AVY opened at $217.42 on Wednesday. The company has a fifty day simple moving average of $216.24 and a 200 day simple moving average of $218.07. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The stock has a market cap of $17.51 billion, a P/E ratio of 31.74, a P/E/G ratio of 1.77 and a beta of 0.88. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.16. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. Avery Dennison’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.92 EPS. On average, research analysts expect that Avery Dennison Co. will post 9.39 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $0.88 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.62%. Avery Dennison’s dividend payout ratio is currently 51.39%.

Analysts Set New Price Targets

A number of research firms recently issued reports on AVY. Citigroup lifted their price target on Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Truist Financial increased their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Stifel Nicolaus assumed coverage on Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price objective on the stock. Finally, Argus boosted their target price on Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.96.

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.