CIBC Private Wealth Group LLC Sells 290 Shares of Avery Dennison Co. (NYSE:AVY)

CIBC Private Wealth Group LLC cut its stake in shares of Avery Dennison Co. (NYSE:AVY) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,890 shares of the industrial products company’s stock after selling 290 shares during the period. CIBC Private Wealth Group LLC’s holdings in Avery Dennison were worth $4,109,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AVY. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison in the 4th quarter valued at approximately $37,000. Spire Wealth Management grew its position in shares of Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 130 shares during the period. VisionPoint Advisory Group LLC acquired a new position in shares of Avery Dennison during the 4th quarter worth about $68,000. AdvisorNet Financial Inc raised its holdings in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 58 shares during the period. Finally, Assetmark Inc. lifted its stake in Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 73 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Truist Financial reissued a “buy” rating and set a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Citigroup dropped their price target 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. Barclays reduced their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, Bank of America reduced their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Stock Performance

NYSE AVY opened at $179.78 on Wednesday. The firm has a 50-day moving average price of $182.77 and a two-hundred day moving average price of $195.86. Avery Dennison Co. has a 12-month low of $173.02 and a 12-month high of $233.48. The company has a market capitalization of $14.20 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last issued 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 net margin of 8.05% and a return on equity of 33.06%. 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 was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s payout ratio is currently 40.37%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’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 transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is owned by insiders.

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.