Congress Wealth Management LLC DE Has $2.62 Million Stake in Avery Dennison Co. (NYSE:AVY)

Congress Wealth Management LLC DE grew its stake in shares of Avery Dennison Co. (NYSE:AVY) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,991 shares of the industrial products company’s stock after buying an additional 125 shares during the period. Congress Wealth Management LLC DE’s holdings in Avery Dennison were worth $2,618,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in Avery Dennison in the 4th quarter valued at approximately $51,521,000. Geode Capital Management LLC boosted its stake in Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after buying an additional 134,560 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Avery Dennison by 411.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company’s stock valued at $23,084,000 after buying an additional 99,232 shares in the last quarter. Finally, World Investment Advisors LLC lifted its holdings in shares of Avery Dennison by 2,629.0% during the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after acquiring an additional 88,491 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY stock opened at $178.04 on Thursday. 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 Co. has a 12 month low of $173.02 and a 12 month high of $233.48. The firm has a market cap of $14.06 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.07 and a beta of 0.85. The stock has a 50-day moving average price of $183.85 and a 200 day moving average price of $197.18.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 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%. Research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVY. Raymond James reissued an “outperform” rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. UBS Group decreased their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Truist Financial reiterated a “buy” rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.84% of the stock is owned by corporate insiders.

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.