Bradley Foster & Sargent Inc. CT Buys 149 Shares of Avery Dennison Co. (NYSE:AVY)

Bradley Foster & Sargent Inc. CT increased its stake in shares of Avery Dennison Co. (NYSE:AVY) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,817 shares of the industrial products company’s stock after purchasing an additional 149 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Avery Dennison were worth $616,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AVY. UBS Group AG increased its stake in shares of Avery Dennison by 54.1% in the 4th quarter. UBS Group AG now owns 181,418 shares of the industrial products company’s stock valued at $36,675,000 after buying an additional 63,716 shares during the period. Cetera Investment Advisers increased its position in Avery Dennison by 195.2% in the first quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock worth $3,988,000 after purchasing an additional 11,811 shares during the period. Natixis raised its holdings in Avery Dennison by 365.9% during the 1st quarter. Natixis now owns 4,552 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 3,575 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in Avery Dennison during the 1st quarter valued at about $2,935,000. Finally, SG Americas Securities LLC boosted its stake in shares of Avery Dennison by 86.5% in the 2nd quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock valued at $7,114,000 after purchasing an additional 15,092 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY opened at $215.77 on Friday. The firm’s 50 day moving average price is $215.74 and its two-hundred day moving average price is $218.84. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. Avery Dennison Co. has a twelve month low of $165.21 and a twelve month high of $233.48. The firm has a market cap of $17.38 billion, a P/E ratio of 31.50, a PEG ratio of 1.81 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the business earned $1.92 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Wednesday, September 4th. Avery Dennison’s dividend payout ratio is presently 51.39%.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $66,333,345.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s 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 sale, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock valued at $12,545,087 in the last quarter. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

AVY has been the topic of several analyst reports. Robert W. Baird increased their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Stifel Nicolaus started coverage on Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective for the company. Citigroup increased their target price on Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Truist Financial boosted their target price on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $252.00 price target (down from $254.00) on shares of Avery Dennison in a research report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $239.78.

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.