Level Four Advisory Services LLC Purchases New Stake in Avery Dennison Co. (NYSE:AVY)

Level Four Advisory Services LLC acquired a new stake in shares of Avery Dennison Co. (NYSE:AVY) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,297 shares of the industrial products company’s stock, valued at approximately $262,000.

Several other large investors have also bought and sold shares of AVY. Annis Gardner Whiting Capital Advisors LLC bought a new position in Avery Dennison during the 3rd quarter valued at $32,000. Milestone Investment Advisors LLC bought a new position in Avery Dennison during the 3rd quarter valued at $36,000. Anchor Investment Management LLC bought a new stake in shares of Avery Dennison during the 4th quarter worth $42,000. VisionPoint Advisory Group LLC bought a new stake in shares of Avery Dennison during the 4th quarter worth $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 166 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Stock Up 0.0 %

Shares of NYSE AVY opened at $229.22 on Thursday. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $229.98. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $18.46 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 3.47 and a beta of 0.91. The business has a 50-day moving average of $219.08 and a 200-day moving average of $206.41.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.14. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. Sell-side analysts expect that Avery Dennison Co. will post 9.31 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $3.52 annualized dividend and a yield of 1.54%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is presently 51.39%.

Insider Activity at Avery Dennison

In related news, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares in the company, valued at $606,383.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Francisco Melo sold 3,750 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $227.00, for a total value of $851,250.00. Following the sale, the insider now directly owns 15,230 shares of the company’s stock, valued at $3,457,210. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The disclosure for this sale can be found here. Insiders sold a total of 21,212 shares of company stock worth $4,652,269 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AVY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Citigroup lifted their target price on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Raymond James reiterated an “outperform” rating and set a $240.00 target price (up from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Finally, Truist Financial boosted their price objective on Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $228.50.

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.