BKD Wealth Advisors LLC grew its holdings in Avery Dennison Corporation (NYSE:AVY) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,168 shares of the industrial products company’s stock after buying an additional 479 shares during the period. BKD Wealth Advisors LLC’s holdings in Avery Dennison were worth $364,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in AVY. West Oak Capital LLC lifted its position in shares of Avery Dennison by 114.3% in the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock valued at $172,000 after buying an additional 800 shares during the last quarter. Conning Inc. acquired a new stake in shares of Avery Dennison in the third quarter valued at approximately $200,000. Davidson & Garrard Inc. acquired a new stake in shares of Avery Dennison in the third quarter valued at approximately $202,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Avery Dennison in the second quarter valued at approximately $207,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Avery Dennison during the third quarter worth approximately $213,000. 84.92% of the stock is owned by institutional investors.
In other Avery Dennison news, Director Peter K. Barker sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total transaction of $229,520.00. Following the transaction, the director now owns 26,703 shares in the company, valued at approximately $3,064,436.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Susan C. Miller sold 6,518 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $105.17, for a total value of $685,498.06. Following the transaction, the vice president now owns 13,409 shares in the company, valued at approximately $1,410,224.53. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,604 shares of company stock worth $16,475,271. Corporate insiders own 1.40% of the company’s stock.
Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. Avery Dennison had a return on equity of 40.52% and a net margin of 6.27%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company earned $1.01 EPS. The company’s revenue was up 11.3% on a year-over-year basis. equities analysts forecast that Avery Dennison Corporation will post 4.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $1.80 dividend on an annualized basis and a yield of 1.49%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.18%.
A number of equities analysts have recently weighed in on the company. KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a research note on Monday, October 30th. UBS Group assumed coverage on Avery Dennison in a research note on Thursday. They set a “buy” rating and a $135.00 target price on the stock. Zacks Investment Research lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Finally, Loop Capital increased their target price on Avery Dennison from $99.00 to $106.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Avery Dennison currently has an average rating of “Buy” and a consensus price target of $116.00.
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About Avery Dennison
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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