Principal Financial Group Inc. Has $60.18 Million Holdings in Avery Dennison Corporation $AVY

Principal Financial Group Inc. lowered its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 6.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 371,071 shares of the industrial products company’s stock after selling 24,886 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of Avery Dennison worth $60,178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Strengthening Families & Communities LLC boosted its position in shares of 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 buying an additional 58 shares during the last quarter. Resources Management Corp CT ADV lifted its stake in Avery Dennison by 0.8% during 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 acquiring an additional 62 shares in the last quarter. Bill Few Associates Inc. boosted its holdings in 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 worth $2,341,000 after acquiring an additional 67 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Avery Dennison by 0.3% in the 3rd quarter. Arizona State Retirement System now owns 23,151 shares of the industrial products company’s stock worth $3,754,000 after acquiring an additional 71 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $798,000 after purchasing an additional 79 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $186.71 on Wednesday. The firm has a market capitalization of $14.43 billion, a PE ratio of 21.24, a P/E/G ratio of 3.14 and a beta of 1.00. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 1.45. The company has a 50-day moving average price of $182.20 and a two-hundred day moving average price of $174.10. Avery Dennison Corporation has a twelve month low of $156.23 and a twelve month high of $190.45.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $182.00 to $195.00 in a research report on Thursday, October 23rd. Citigroup upped their target price on Avery Dennison from $180.00 to $188.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. UBS Group raised Avery Dennison from a “neutral” rating to a “buy” rating and increased their price target for the company from $181.00 to $218.00 in a research report on Thursday, October 23rd. Truist Financial boosted their price objective on Avery Dennison from $213.00 to $234.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Avery Dennison in a research report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.36.

About Avery Dennison

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.