Avery Dennison Co. (NYSE:AVY) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of Avery Dennison Co. (NYSE:AVY) by 0.8% in the third quarter, Holdings Channel.com reports. The fund owned 617,611 shares of the industrial products company’s stock after purchasing an additional 4,670 shares during the period. Principal Financial Group Inc.’s holdings in Avery Dennison were worth $136,338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AVY. Victory Capital Management Inc. increased its holdings in Avery Dennison by 2.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock valued at $290,050,000 after purchasing an additional 27,771 shares during the last quarter. Boston Partners grew its stake in shares of Avery Dennison by 3.6% in the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after buying an additional 35,538 shares in the last quarter. Meridiem Investment Management Ltd. raised its holdings in shares of Avery Dennison by 0.7% in the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after buying an additional 5,756 shares during the period. Dimensional Fund Advisors LP lifted its stake in Avery Dennison by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after acquiring an additional 32,467 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Avery Dennison by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock worth $141,297,000 after acquiring an additional 17,158 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $64,745,870.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $206.82, for a total value of $620,460.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $62,896,857.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $64,745,870.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,108 shares of company stock worth $8,561,057 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVY. Barclays cut their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and raised their price target for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Truist Financial upped their price objective 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, JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.96.

Avery Dennison Stock Down 0.2 %

Avery Dennison stock opened at $205.05 on Friday. The stock has a market cap of $16.47 billion, a PE ratio of 24.62, a P/E/G ratio of 1.58 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The stock’s fifty day moving average is $214.56 and its two-hundred day moving average is $218.01. Avery Dennison Co. has a 1-year low of $176.78 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $2.10 EPS. On average, sell-side analysts expect that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

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.