Avery Dennison Co. (NYSE:AVY) Shares Bought by CANADA LIFE ASSURANCE Co

by · The Cerbat Gem

CANADA LIFE ASSURANCE Co grew its holdings in Avery Dennison Co. (NYSE:AVY – Free Report) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,931 shares of the industrial products company’s stock after buying an additional 2,742 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.08% of Avery Dennison worth $12,513,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AVY. Vanguard Group Inc. boosted its position in shares of Avery Dennison by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company’s stock worth $1,811,738,000 after purchasing an additional 33,149 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Avery Dennison by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company’s stock worth $392,445,000 after buying an additional 13,815 shares in the last quarter. Norges Bank acquired a new position in Avery Dennison during the fourth quarter worth about $188,643,000. Boston Partners increased its holdings in Avery Dennison by 7.7% in the fourth quarter. Boston Partners now owns 926,506 shares of the industrial products company’s stock valued at $173,385,000 after buying an additional 66,216 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Avery Dennison by 16.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 812,191 shares of the industrial products company’s stock valued at $151,985,000 after acquiring an additional 112,650 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Trading Up 1.7 %

Shares of AVY opened at $170.98 on Monday. Avery Dennison Co. has a fifty-two week low of $157.00 and a fifty-two week high of $233.48. The stock has a fifty day moving average of $177.54 and a two-hundred day moving average of $190.94. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The company has a market capitalization of $13.43 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY – Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. As a group, analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.06%. Avery Dennison’s payout ratio is 40.37%.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares in the company, valued at $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVY. UBS Group lowered their price target on Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Citigroup dropped their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. 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 note on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, Barclays lowered their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $220.87.

Get Our Latest Stock Report on Avery Dennison

Avery Dennison Company Profile

(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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