Bradley Foster & Sargent Inc. CT Cuts Stake in Avery Dennison Co. (NYSE:AVY)

Bradley Foster & Sargent Inc. CT lessened its holdings in Avery Dennison Co. (NYSE:AVY) by 48.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,419 shares of the industrial products company’s stock after selling 2,298 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Avery Dennison were worth $453,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in shares of Avery Dennison by 32.4% in the 4th quarter. Venturi Wealth Management LLC now owns 4,492 shares of the industrial products company’s stock valued at $841,000 after acquiring an additional 1,100 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Avery Dennison by 3.5% during 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 purchasing an additional 553 shares during the period. Allworth Financial LP grew its holdings in shares of Avery Dennison by 127.6% in the fourth quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company’s stock worth $373,000 after purchasing an additional 1,097 shares during the last quarter. Figure 8 Investment Strategies LLC purchased a new position in shares of Avery Dennison in the fourth quarter worth $1,461,000. Finally, Vontobel Holding Ltd. increased its stake in shares of Avery Dennison by 11.7% in the fourth quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company’s stock worth $268,000 after buying an additional 150 shares during the period. 94.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Truist Financial restated a “buy” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Raymond James restated an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup dropped their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Bank of America cut their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Robert W. Baird set a $220.00 target price on Avery Dennison in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $222.51.

Insider Transactions at Avery Dennison

In related 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 value of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

Shares of NYSE AVY opened at $184.34 on Friday. Avery Dennison Co. has a 12-month low of $178.72 and a 12-month high of $233.48. The firm has a market capitalization of $14.81 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 2.06 and a beta of 0.89. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The firm has a 50 day moving average of $187.01 and a 200 day moving average of $202.58.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Avery Dennison Company 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.