Vanguard Personalized Indexing Management LLC Purchases 921 Shares of Avery Dennison Co. (NYSE:AVY)

Vanguard Personalized Indexing Management LLC raised its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 15.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,872 shares of the industrial products company’s stock after purchasing an additional 921 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Avery Dennison were worth $1,503,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AVY. Swedbank AB bought a new position in shares of Avery Dennison during the first quarter valued at $102,117,000. Jennison Associates LLC purchased a new stake in shares of Avery Dennison during the 1st quarter valued at about $44,837,000. Schroder Investment Management Group grew its stake in shares of Avery Dennison by 2,707.5% in the fourth quarter. Schroder Investment Management Group now owns 197,562 shares of the industrial products company’s stock worth $39,939,000 after acquiring an additional 190,525 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Avery Dennison by 31.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 645,721 shares of the industrial products company’s stock valued at $130,539,000 after purchasing an additional 156,189 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Avery Dennison by 795.2% during the second quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock valued at $34,190,000 after purchasing an additional 142,348 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on AVY. BMO Capital Markets reiterated an “outperform” rating and set a $252.00 target price (down from $254.00) on shares of Avery Dennison in a research note on Thursday. Truist Financial upped their price objective on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target for the company. Finally, Citigroup raised their price objective on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.36.

Avery Dennison Price Performance

NYSE:AVY opened at $211.58 on Friday. The business’s 50-day simple moving average is $215.56 and its two-hundred day simple moving average is $218.82. Avery Dennison Co. has a 52 week low of $165.21 and a 52 week high of $233.48. The stock has a market cap of $17.04 billion, a PE ratio of 30.89, a P/E/G ratio of 1.81 and a beta of 0.88. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $2.18 billion. During the same period in the prior year, the company posted $1.92 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The sale was disclosed in a filing with the SEC, which is available through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the 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 transaction, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at $64,745,870.60. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock worth $12,545,087 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

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.