Monte Financial Group LLC Raises Holdings in Avery Dennison Co. (NYSE:AVY)

Monte Financial Group LLC lifted its holdings in Avery Dennison Co. (NYSE:AVY) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,680 shares of the industrial products company’s stock after buying an additional 150 shares during the quarter. Monte Financial Group LLC’s holdings in Avery Dennison were worth $1,063,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its position in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of Avery Dennison in the third quarter valued at about $36,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison during the third quarter worth about $39,000. Raleigh Capital Management Inc. grew its position in Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after buying an additional 238 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Avery Dennison during the 3rd quarter valued at approximately $66,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AVY. Bank of America lowered their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. BMO Capital Markets reduced their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Truist Financial dropped their target price on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.05.

Avery Dennison Stock Down 1.0 %

Shares of Avery Dennison stock opened at $191.33 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The firm has a market cap of $15.37 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 1.36 and a beta of 0.89. The stock has a 50-day simple moving average of $194.09 and a 200-day simple moving average of $207.06. Avery Dennison Co. has a 52-week low of $181.99 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the business posted $2.10 EPS. Avery Dennison’s revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts expect that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Profile

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.