Richelieu Gestion SA Has $347,000 Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Richelieu Gestion SA reduced its stake in shares of Avery Dennison Co. (NYSE:AVY) by 36.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,553 shares of the industrial products company’s stock after selling 873 shares during the quarter. Richelieu Gestion SA’s holdings in Avery Dennison were worth $347,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AVY. Cerity Partners LLC grew its holdings in shares of Avery Dennison by 4,159.9% during the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after purchasing an additional 1,163,264 shares in the last quarter. Norges Bank acquired a new stake in shares of Avery Dennison during the 4th quarter worth $185,292,000. Morgan Stanley boosted its stake in Avery Dennison by 55.7% in the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after buying an additional 639,521 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Avery Dennison by 22.7% in the third quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock valued at $487,857,000 after buying an additional 493,857 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Avery Dennison by 1,429.4% in the fourth quarter. Corient Private Wealth LLC now owns 262,697 shares of the industrial products company’s stock valued at $53,107,000 after buying an additional 245,520 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVY has been the topic of several research analyst reports. Argus raised their price objective on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Truist Financial raised their price objective on Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Robert W. Baird increased their target price on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. JPMorgan Chase & Co. increased their target price on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, Raymond James reiterated an “outperform” rating and issued a $240.00 target price (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $230.50.

Avery Dennison Trading Down 0.7 %

Shares of AVY traded down $1.61 during mid-day trading on Wednesday, reaching $224.11. 107,688 shares of the company were exchanged, compared to its average volume of 436,225. Avery Dennison Co. has a 52 week low of $163.83 and a 52 week high of $231.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. The stock has a market capitalization of $18.05 billion, a PE ratio of 32.67, a PEG ratio of 2.07 and a beta of 0.91. The business has a 50 day simple moving average of $223.41 and a two-hundred day simple moving average of $213.02.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.14. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. On average, analysts predict that Avery Dennison Co. will post 9.32 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were issued a $0.88 dividend. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Wednesday, June 5th. Avery Dennison’s payout ratio is presently 51.39%.

Insiders Place Their Bets

In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of Avery Dennison stock in a transaction that occurred 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 directly owns 67,457 shares in the company, valued at $15,326,230.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of the firm’s stock in a transaction that occurred 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 $15,326,230.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Deena Baker-Nel sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total value of $684,510.00. Following the completion of the sale, the senior vice president now directly owns 1,577 shares of the company’s stock, valued at approximately $359,824.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,583 shares of company stock worth $2,856,353. 1.10% of the stock is owned by corporate insiders.

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.