Principal Financial Group Inc. Sells 24,886 Shares of Avery Dennison Corporation $AVY

Principal Financial Group Inc. lessened its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 6.3% in the third quarter, Holdings Channel reports. The institutional investor owned 371,071 shares of the industrial products company’s stock after selling 24,886 shares during the quarter. Principal Financial Group Inc.’s holdings in Avery Dennison were worth $60,178,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVY. Strengthening Families & Communities LLC grew its stake in Avery Dennison by 16.6% during the second quarter. Strengthening Families & Communities LLC now owns 408 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 58 shares in the last quarter. Resources Management Corp CT ADV boosted its holdings in Avery Dennison by 0.8% in the 2nd quarter. Resources Management Corp CT ADV now owns 7,800 shares of the industrial products company’s stock valued at $1,369,000 after purchasing an additional 62 shares during the period. Bill Few Associates Inc. grew its position in shares of Avery Dennison by 0.5% during the 2nd quarter. Bill Few Associates Inc. now owns 13,341 shares of the industrial products company’s stock valued at $2,341,000 after purchasing an additional 67 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Avery Dennison by 0.3% in the third quarter. Arizona State Retirement System now owns 23,151 shares of the industrial products company’s stock worth $3,754,000 after purchasing an additional 71 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Avery Dennison by 1.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,547 shares of the industrial products company’s stock worth $798,000 after buying an additional 79 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Down 0.2%

Shares of NYSE AVY opened at $186.71 on Wednesday. The company has a market cap of $14.43 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 3.14 and a beta of 1.00. The firm’s fifty day moving average is $182.20 and its 200 day moving average is $174.10. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 1.45. Avery Dennison Corporation has a 52 week low of $156.23 and a 52 week high of $190.45.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AVY shares. BMO Capital Markets restated an “outperform” rating and issued a $210.00 target price on shares of Avery Dennison in a research note on Thursday, October 23rd. Citigroup boosted their price objective on Avery Dennison from $180.00 to $188.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Avery Dennison in a research note on Monday, December 29th. Truist Financial lifted their target price on shares of Avery Dennison from $213.00 to $234.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, UBS Group upgraded shares of Avery Dennison from a “neutral” rating to a “buy” rating and raised their price objective for the company from $181.00 to $218.00 in a research report on Thursday, October 23rd. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $204.36.

Avery Dennison Company Profile

Avery Dennison (NYSE:AVY) is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison’s offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.