Generali Asset Management SPA SGR Makes New $2.87 Million Investment in Avery Dennison Co. (NYSE:AVY)

Generali Asset Management SPA SGR acquired a new position in shares of Avery Dennison Co. (NYSE:AVY) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 15,352 shares of the industrial products company’s stock, valued at approximately $2,873,000.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in 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 buying an additional 71 shares in the last quarter. Regents Gate Capital LLP purchased a new position in Avery Dennison in the 4th quarter worth approximately $37,000. Spire Wealth Management lifted its stake in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 130 shares in the last quarter. Brooklyn Investment Group purchased a new position in Avery Dennison in the 3rd quarter worth approximately $66,000. Finally, VisionPoint Advisory Group LLC purchased a new position in Avery Dennison in the 4th quarter worth approximately $68,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AVY. Citigroup decreased their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Bank of America reduced their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research report on Monday, February 3rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.51.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the sale, the chairman now owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

NYSE:AVY opened at $179.05 on Thursday. Avery Dennison Co. has a fifty-two week low of $174.91 and a fifty-two week high of $233.48. The company has a 50 day moving average price of $185.02 and a 200 day moving average price of $198.67. The stock has a market capitalization of $14.14 billion, a P/E ratio of 20.53, a PEG ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Equities research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio is currently 40.37%.

Avery Dennison Company 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.