Checchi Capital Advisers LLC Purchases 62 Shares of Avery Dennison Co. (NYSE:AVY)

Checchi Capital Advisers LLC grew its position in shares of Avery Dennison Co. (NYSE:AVY) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,228 shares of the industrial products company’s stock after purchasing an additional 62 shares during the period. Checchi Capital Advisers LLC’s holdings in Avery Dennison were worth $248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVY. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Avery Dennison in the third quarter worth approximately $32,000. Milestone Investment Advisors LLC purchased a new stake in shares of Avery Dennison in the 3rd quarter valued at $36,000. VisionPoint Advisory Group LLC bought a new position in shares of Avery Dennison during the 4th quarter valued at $42,000. Anchor Investment Management LLC purchased a new position in Avery Dennison in the 4th quarter worth $42,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after buying an additional 166 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on AVY shares. JPMorgan Chase & Co. lifted their price objective on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Argus raised their target price on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Citigroup upped their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, Truist Financial raised their price target on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus target price of $228.50.

Avery Dennison Stock Performance

Shares of AVY stock opened at $226.26 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. The company’s fifty day moving average price is $217.72 and its 200-day moving average price is $204.47. The stock has a market cap of $18.23 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 3.45 and a beta of 0.91. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $228.15.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.14. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. On average, equities analysts expect that Avery Dennison Co. will post 9.31 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio (DPR) is 47.30%.

Insider Buying and Selling

In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of Avery Dennison stock in a transaction on Friday, May 10th. The stock was sold at an average price of $227.20, for a total value of $657,516.80. Following the completion of the sale, the chief financial officer now owns 67,457 shares of the company’s stock, valued at approximately $15,326,230.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Gregory Lovins sold 2,894 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $227.20, for a total transaction of $657,516.80. Following the sale, the chief financial officer now directly owns 67,457 shares of the company’s stock, valued at $15,326,230.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Ignacio J. Walker sold 5,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the transaction, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. Insiders sold a total of 17,462 shares of company stock worth $3,801,019 in the last three months. Insiders own 1.10% of the company’s stock.

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.