Taylor Frigon Capital Management LLC Sells 61 Shares of Avery Dennison Co. (NYSE:AVY)

Taylor Frigon Capital Management LLC cut its stake in Avery Dennison Co. (NYSE:AVY) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,542 shares of the industrial products company’s stock after selling 61 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Avery Dennison were worth $1,224,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Larson Financial Group LLC boosted its holdings in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares during the period. Kennebec Savings Bank acquired a new position in Avery Dennison in the 3rd quarter valued at $36,000. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison during the fourth quarter worth $37,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison in the third quarter valued at about $39,000. Finally, Spire Wealth Management boosted its holdings in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Bank of America lowered their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Robert W. Baird set a $220.00 price target on Avery Dennison in a research note on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Raymond James reiterated an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and set a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Price Performance

AVY stock opened at $185.64 on Thursday. The company has a market capitalization of $14.92 billion, a P/E ratio of 21.29, a PEG ratio of 2.07 and a beta of 0.89. The company has a fifty day moving average price of $186.71 and a 200-day moving average price of $202.13. 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 Co. has a 52-week low of $178.72 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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%. As a group, equities analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is currently 40.37%.

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.