Zions Bancorporation N.A. Has $933,000 Position in Avery Dennison Co. (NYSE:AVY)

Zions Bancorporation N.A. boosted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 51.8% during the fourth quarter, HoldingsChannel reports. The fund owned 4,984 shares of the industrial products company’s stock after purchasing an additional 1,701 shares during the quarter. Zions Bancorporation N.A.’s holdings in Avery Dennison were worth $933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the last quarter. Regents Gate Capital LLP bought a new stake in shares of Avery Dennison in the 4th quarter valued at about $37,000. Spire Wealth Management increased its stake in shares of Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after buying an additional 130 shares during the period. Brooklyn Investment Group bought a new position in shares of Avery Dennison during the third quarter worth about $66,000. Finally, VisionPoint Advisory Group LLC acquired a new position in shares of Avery Dennison in the fourth quarter worth approximately $68,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research report on Monday, February 3rd. UBS Group decreased their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Raymond James restated an “outperform” rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup decreased their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price objective 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $222.51.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the sale, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.84% of the company’s stock.

Avery Dennison Price Performance

AVY stock opened at $178.04 on Thursday. Avery Dennison Co. has a 1 year low of $173.02 and a 1 year high of $233.48. The stock has a market capitalization of $14.06 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company’s 50-day moving average is $183.85 and its 200-day moving average is $197.18. 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 results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Equities research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.98%. Avery Dennison’s payout ratio is 40.37%.

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.