Figure 8 Investment Strategies LLC Acquires Shares of 7,806 Avery Dennison Co. (NYSE:AVY)

Figure 8 Investment Strategies LLC acquired a new stake in Avery Dennison Co. (NYSE:AVY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,806 shares of the industrial products company’s stock, valued at approximately $1,461,000. Avery Dennison makes up about 1.4% of Figure 8 Investment Strategies LLC’s holdings, making the stock its 25th largest holding.

A number of other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after purchasing an additional 157,754 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Avery Dennison by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after buying an additional 90,250 shares in the last quarter. World Investment Advisors LLC boosted its stake in shares of Avery Dennison by 2,629.0% in the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after buying an additional 88,491 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in shares of Avery Dennison by 135.6% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 146,830 shares of the industrial products company’s stock valued at $27,476,000 after acquiring an additional 84,501 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Avery Dennison by 12.4% during the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after acquiring an additional 46,390 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction 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 approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AVY has been the topic of a number of research analyst reports. BMO Capital Markets cut their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Truist Financial reissued a “buy” rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. UBS Group lowered their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Barclays dropped their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and an average target price of $227.15.

Avery Dennison Stock Up 1.0 %

AVY stock opened at $183.08 on Friday. The stock has a 50-day simple moving average of $189.40 and a two-hundred day simple moving average of $203.93. Avery Dennison Co. has a twelve month low of $178.72 and a twelve month high of $233.48. The firm has a market capitalization of $14.71 billion, a PE ratio of 20.99, a PEG ratio of 2.04 and a beta of 0.89. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, equities analysts predict that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.92%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.