Avery Dennison Co. (NYSE:AVY) Shares Sold by First Hawaiian Bank

First Hawaiian Bank reduced its position in shares of Avery Dennison Co. (NYSE:AVY) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,214 shares of the industrial products company’s stock after selling 223 shares during the period. First Hawaiian Bank’s holdings in Avery Dennison were worth $4,290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVY. HighTower Advisors LLC increased its position in Avery Dennison by 4.7% during the third quarter. HighTower Advisors LLC now owns 15,300 shares of the industrial products company’s stock worth $2,788,000 after purchasing an additional 686 shares during the last quarter. Rhumbline Advisers increased its position in shares of Avery Dennison by 0.4% during the third quarter. Rhumbline Advisers now owns 160,575 shares of the industrial products company’s stock valued at $29,332,000 after acquiring an additional 690 shares during the last quarter. Aviva PLC increased its position in shares of Avery Dennison by 75.8% during the third quarter. Aviva PLC now owns 24,832 shares of the industrial products company’s stock valued at $4,536,000 after acquiring an additional 10,709 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of Avery Dennison by 12.5% during the third quarter. Kestra Advisory Services LLC now owns 4,623 shares of the industrial products company’s stock valued at $844,000 after acquiring an additional 514 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Avery Dennison by 9.9% during the third quarter. Rafferty Asset Management LLC now owns 5,999 shares of the industrial products company’s stock valued at $1,096,000 after acquiring an additional 539 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Avery Dennison news, SVP Deena Baker-Nel sold 3,000 shares of Avery Dennison stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total value of $684,510.00. Following the transaction, the senior vice president now directly owns 1,577 shares in the company, valued at $359,824.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Ignacio J. Walker sold 2,206 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $226.70, for a total transaction of $500,100.20. Following the completion of the sale, the senior vice president now owns 7,082 shares in the company, valued at $1,605,489.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deena Baker-Nel sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total value of $684,510.00. Following the sale, the senior vice president now owns 1,577 shares of the company’s stock, valued at approximately $359,824.09. The disclosure for this sale can be found here. Insiders sold a total of 12,583 shares of company stock worth $2,856,353 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Avery Dennison Stock Down 0.6 %

Shares of NYSE AVY traded down $1.35 during mid-day trading on Wednesday, reaching $227.04. The company had a trading volume of 499,615 shares, compared to its average volume of 368,746. Avery Dennison Co. has a 52-week low of $163.83 and a 52-week high of $230.43. The stock has a market cap of $18.29 billion, a P/E ratio of 33.14, a PEG ratio of 2.10 and a beta of 0.91. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. The firm has a 50 day simple moving average of $222.00 and a two-hundred day simple moving average of $211.84.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.14. The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. Sell-side analysts predict that Avery Dennison Co. will post 9.32 earnings per share for the current year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.55%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date is Wednesday, June 5th. Avery Dennison’s payout ratio is presently 51.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AVY shares. Robert W. Baird lifted their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. JPMorgan Chase & Co. lifted their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Citigroup lifted their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Truist Financial lifted their price objective on shares of Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Raymond James reiterated an “outperform” rating and issued a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $230.50.

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.