Y Intercept Hong Kong Ltd Buys New Stake in Avery Dennison Co. (NYSE:AVY)

Y Intercept Hong Kong Ltd bought a new stake in Avery Dennison Co. (NYSE:AVY) during the fourth quarter, HoldingsChannel.com reports. The fund bought 8,827 shares of the industrial products company’s stock, valued at approximately $1,652,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. VisionPoint Advisory Group LLC bought a new stake in Avery Dennison in the fourth quarter valued at about $68,000. Venturi Wealth Management LLC boosted its position in Avery Dennison by 32.4% in the fourth quarter. Venturi Wealth Management LLC now owns 4,492 shares of the industrial products company’s stock valued at $841,000 after buying an additional 1,100 shares in the last quarter. CIBC Asset Management Inc boosted its position in Avery Dennison by 3.5% in the fourth quarter. CIBC Asset Management Inc now owns 16,148 shares of the industrial products company’s stock valued at $3,022,000 after buying an additional 553 shares in the last quarter. Allworth Financial LP boosted its position in Avery Dennison by 127.6% in the fourth quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company’s stock valued at $373,000 after buying an additional 1,097 shares in the last quarter. Finally, Figure 8 Investment Strategies LLC acquired a new position in Avery Dennison in the fourth quarter valued at about $1,461,000. Institutional investors own 94.17% of the company’s stock.

Analysts Set New Price Targets

AVY has been the topic of a number of recent analyst reports. 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 report on Friday, January 31st. Citigroup reduced their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Raymond James restated an “outperform” rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Trading Up 0.9 %

Shares of NYSE AVY opened at $186.24 on Wednesday. The company’s 50 day simple moving average is $186.84 and its 200 day simple moving average is $202.39. Avery Dennison Co. has a fifty-two week low of $178.72 and a fifty-two week high of $233.48. The firm has a market capitalization of $14.96 billion, a P/E ratio of 21.36, a P/E/G ratio of 2.07 and a beta of 0.89. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data 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%. On average, analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.89%. Avery Dennison’s dividend payout ratio is currently 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.