Heritage Trust Co Increases Stock Position in Avery Dennison Co. (NYSE:AVY)

Heritage Trust Co increased its position in Avery Dennison Co. (NYSE:AVY) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,167 shares of the industrial products company’s stock after purchasing an additional 338 shares during the quarter. Heritage Trust Co’s holdings in Avery Dennison were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AVY. Taylor Frigon Capital Management LLC grew its position in Avery Dennison by 0.9% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 5,802 shares of the industrial products company’s stock valued at $1,066,000 after buying an additional 52 shares in the last quarter. Outlook Wealth Advisors LLC grew its position in Avery Dennison by 2.3% in the 4th quarter. Outlook Wealth Advisors LLC now owns 2,915 shares of the industrial products company’s stock valued at $452,000 after buying an additional 65 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Avery Dennison by 10.6% during the 1st quarter. Rockefeller Capital Management L.P. now owns 927 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 89 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Avery Dennison by 1.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,644 shares of the industrial products company’s stock valued at $1,955,000 after purchasing an additional 107 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Avery Dennison by 0.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 31,899 shares of the industrial products company’s stock valued at $4,948,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 89.31% of the company’s stock.

Several research firms have recently weighed in on AVY. Citigroup raised their price objective on shares of Avery Dennison from $219.00 to $243.00 in a research report on Thursday, April 29th. Zacks Investment Research upgraded shares of Avery Dennison from a “hold” rating to a “strong-buy” rating and set a $247.00 price objective for the company in a research report on Monday, May 3rd. Morgan Stanley raised their price objective on shares of Avery Dennison from $182.00 to $215.00 and gave the company an “equal weight” rating in a research report on Monday, May 3rd. UBS Group restated a “neutral” rating and set a $227.00 price objective (up previously from $202.00) on shares of Avery Dennison in a research report on Wednesday, May 5th. Finally, Atlantic Securities reiterated a “neutral” rating on shares of Avery Dennison in a report on Tuesday, March 23rd. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Avery Dennison has an average rating of “Buy” and an average price target of $224.73.

Shares of NYSE AVY traded up $0.81 during mid-day trading on Friday, reaching $217.90. The company had a trading volume of 3,040 shares, compared to its average volume of 552,161. The business has a fifty day simple moving average of $210.09. The company has a quick ratio of 0.90, a current ratio of 1.28 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $18.09 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 3.54 and a beta of 1.00. Avery Dennison Co. has a 12-month low of $109.07 and a 12-month high of $226.19.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, April 27th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.39. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.92 billion. Avery Dennison had a net margin of 8.65% and a return on equity of 46.93%. The firm’s revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 earnings per share. Research analysts expect that Avery Dennison Co. will post 8.74 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 16th. Investors of record on Wednesday, June 2nd will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, June 1st. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.62. Avery Dennison’s dividend payout ratio (DPR) is presently 38.31%.

Avery Dennison Company Profile

Avery Dennison Corporation manufactures and markets pressure-sensitive materials in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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