Choreo LLC Raises Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Choreo LLC boosted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 40.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,249 shares of the industrial products company’s stock after purchasing an additional 2,391 shares during the quarter. Choreo LLC’s holdings in Avery Dennison were worth $1,762,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVY. Innealta Capital LLC purchased a new position in shares of Avery Dennison in the second quarter valued at approximately $28,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Avery Dennison in the second quarter valued at approximately $42,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Avery Dennison in the second quarter valued at approximately $51,000. Palisade Asset Management LLC acquired a new stake in shares of Avery Dennison in the first quarter valued at approximately $64,000. Finally, Versant Capital Management Inc increased its holdings in shares of Avery Dennison by 936.7% in the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on AVY shares. Stifel Nicolaus started coverage on Avery Dennison in a report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target for the company. Robert W. Baird increased their price target on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Citigroup increased 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 raised their target price on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $239.96.

Insider Activity at Avery Dennison

In related news, 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 value of $1,550,396.96. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction dated 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 completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total value of $2,142,100.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at approximately $65,144,259.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,108 shares of company stock worth $12,545,087. Company insiders own 1.10% of the company’s stock.

Avery Dennison Trading Down 0.5 %

Shares of NYSE AVY opened at $218.30 on Thursday. Avery Dennison Co. has a twelve month low of $165.21 and a twelve month high of $233.48. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The stock has a fifty day simple moving average of $215.56 and a 200-day simple moving average of $218.77. The stock has a market capitalization of $17.58 billion, a PE ratio of 31.87, a PEG ratio of 1.79 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.92 earnings per share. On average, equities analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Dividend Announcement

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

Avery Dennison Company 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.