Jackson Creek Investment Advisors LLC Makes New $245,000 Investment in Avery Dennison Co. (NYSE:AVY)

Jackson Creek Investment Advisors LLC bought a new stake in shares of Avery Dennison Co. (NYSE:AVY) in the second quarter, HoldingsChannel reports. The institutional investor bought 1,122 shares of the industrial products company’s stock, valued at approximately $245,000.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in Avery Dennison in the second quarter valued at about $28,000. VisionPoint Advisory Group LLC acquired a new position in shares of Avery Dennison in the 4th quarter valued at approximately $42,000. 1620 Investment Advisors Inc. acquired a new position in shares of Avery Dennison in the 2nd quarter valued at approximately $51,000. Palisade Asset Management LLC bought a new stake in shares of Avery Dennison during the 1st quarter worth approximately $64,000. Finally, Versant Capital Management Inc boosted its position in shares of Avery Dennison by 936.7% during the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 281 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at $65,004,367.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,314 shares of company stock worth $13,045,187. Insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

Avery Dennison stock opened at $218.88 on Thursday. The business has a 50 day moving average of $215.56 and a 200-day moving average of $218.54. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48. The company has a market capitalization of $17.63 billion, a P/E ratio of 31.95, a P/E/G ratio of 1.84 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results 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 firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 EPS. On average, equities research analysts predict that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, September 4th. Avery Dennison’s payout ratio is presently 51.39%.

Analysts Set New Price Targets

AVY has been the subject of several recent analyst reports. BMO Capital Markets cut their target price on Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Robert W. Baird boosted their price target on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Citigroup boosted their target price on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Finally, Argus increased their target price on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One investment 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. According to MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target 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.