State of Alaska Department of Revenue Has $3.16 Million Holdings in Avery Dennison Co. (NYSE:AVY)

State of Alaska Department of Revenue trimmed its position in Avery Dennison Co. (NYSE:AVY) by 14.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,883 shares of the industrial products company’s stock after selling 2,925 shares during the quarter. State of Alaska Department of Revenue’s holdings in Avery Dennison were worth $3,158,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after acquiring an additional 157,754 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after purchasing an additional 90,250 shares in the last quarter. Meridiem Investment Management Ltd. boosted its holdings in Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after purchasing an additional 5,756 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Avery Dennison by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after purchasing an additional 3,118 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Avery Dennison by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock valued at $151,975,000 after buying an additional 1,782 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Truist Financial restated a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Citigroup dropped their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Raymond James reissued an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.15.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

NYSE:AVY opened at $179.10 on Monday. The firm’s fifty day moving average price is $190.86 and its two-hundred day moving average price is $204.59. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company has a market cap of $14.39 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.04 and a beta of 0.89. Avery Dennison Co. has a one year low of $178.72 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Equities analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.97%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.