First Hawaiian Bank Lowers Position in Avery Dennison Co. (NYSE:AVY)

First Hawaiian Bank lessened its position in Avery Dennison Co. (NYSE:AVYFree Report) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,437 shares of the industrial products company’s stock after selling 1,462 shares during the quarter. First Hawaiian Bank’s holdings in Avery Dennison were worth $3,929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AVY. Clear Street Markets LLC raised its holdings in Avery Dennison by 92.7% in the 1st quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 76 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in Avery Dennison in the 3rd quarter worth $32,000. Eagle Bay Advisors LLC purchased a new stake in Avery Dennison in the 2nd quarter worth $33,000. IFP Advisors Inc lifted its stake in Avery Dennison by 56.3% in the 2nd quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 72 shares in the last quarter. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Avery Dennison during the 1st quarter valued at about $35,000. Institutional investors own 91.09% of the company’s stock.

Insider Activity at Avery Dennison

In other news, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now owns 5,018 shares in the company, valued at $1,014,940.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now directly owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ignacio J. Walker sold 5,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the sale, the senior vice president now owns 6,102 shares in the company, valued at $1,305,217.80. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock worth $4,217,705 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AVY. JPMorgan Chase & Co. raised their price target on shares of Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Truist Financial restated a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. UBS Group boosted their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Bank of America cut shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price for the company. in a report on Tuesday, January 2nd. Finally, Citigroup downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and upped their price target for the company from $197.00 to $214.00 in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $218.78.

Read Our Latest Research Report on AVY

Avery Dennison Price Performance

Shares of NYSE:AVY traded down $0.29 during midday trading on Friday, reaching $215.68. The company’s stock had a trading volume of 615,265 shares, compared to its average volume of 457,048. The business’s fifty day simple moving average is $206.10 and its 200-day simple moving average is $193.48. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. The company has a market capitalization of $17.37 billion, a P/E ratio of 34.73, a P/E/G ratio of 3.31 and a beta of 0.90. Avery Dennison Co. has a fifty-two week low of $158.93 and a fifty-two week high of $219.57.

Avery Dennison (NYSE:AVYGet Free Report) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.16. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. Avery Dennison’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. As a group, equities research analysts expect that Avery Dennison Co. will post 9.28 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be paid a $0.81 dividend. The ex-dividend date is Tuesday, March 5th. This represents a $3.24 annualized dividend and a dividend yield of 1.50%. Avery Dennison’s payout ratio is 52.17%.

About Avery Dennison

(Free Report)

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.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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