Czech National Bank Purchases 1,052 Shares of Avery Dennison Co. (NYSE:AVY)

Czech National Bank grew its position in shares of Avery Dennison Co. (NYSE:AVY) by 6.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 16,402 shares of the industrial products company’s stock after acquiring an additional 1,052 shares during the quarter. Czech National Bank’s holdings in Avery Dennison were worth $3,621,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Virtu Financial LLC bought a new position in Avery Dennison during the fourth quarter valued at $1,057,000. Goldman Sachs Group Inc. lifted its holdings in shares of Avery Dennison by 31.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 645,721 shares of the industrial products company’s stock valued at $130,539,000 after acquiring an additional 156,189 shares during the last quarter. Royal London Asset Management Ltd. grew its position in Avery Dennison by 1.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 31,647 shares of the industrial products company’s stock worth $6,398,000 after acquiring an additional 545 shares in the last quarter. Walden Wealth Partners LLC bought a new stake in Avery Dennison during the fourth quarter worth approximately $286,000. Finally, HighPoint Advisor Group LLC purchased a new stake in Avery Dennison during the fourth quarter valued at approximately $219,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup cut their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Stifel Nicolaus assumed coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $252.00 target price (down previously from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Truist Financial lifted their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.96.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction that occurred 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 transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the business’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 owns 304,114 shares of the company’s stock, valued at $65,004,367.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Stock Performance

Avery Dennison stock opened at $218.03 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The company has a market capitalization of $17.56 billion, a PE ratio of 27.99, a P/E/G ratio of 1.78 and a beta of 0.88. The company has a 50 day moving average price of $215.35 and a 200-day moving average price of $218.93. Avery Dennison Co. has a fifty-two week low of $165.21 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its earnings results 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. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 EPS. As a group, equities analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is 45.19%.

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.