Avery Dennison Co. (NYSE:AVY) Shares Sold by Swedbank AB

Swedbank AB trimmed its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 0.8% in the fourth quarter, Holdings Channel reports. The firm owned 304,432 shares of the industrial products company’s stock after selling 2,527 shares during the period. Swedbank AB’s holdings in Avery Dennison were worth $56,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC increased 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 during the last quarter. Kennebec Savings Bank purchased a new position in Avery Dennison during the 3rd quarter valued at about $36,000. Peterson Financial Group Inc. purchased a new position in Avery Dennison during the 3rd quarter valued at about $39,000. Raleigh Capital Management Inc. boosted its holdings in Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares during the period. Finally, Brooklyn Investment Group purchased a new position in Avery Dennison during the 3rd quarter valued at about $66,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America lowered their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial decreased their price objective on Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays decreased their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.05.

Avery Dennison Price Performance

AVY stock opened at $192.67 on Thursday. The stock has a market cap of $15.48 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.36 and a beta of 0.89. Avery Dennison Co. has a fifty-two week low of $181.99 and a fifty-two week high of $233.48. The business has a 50 day moving average price of $193.97 and a 200 day moving average price of $206.61. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently 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.