Palmer Knight Co Boosts Stake in Avery Dennison Co. (NYSE:AVY)

Palmer Knight Co increased its position in Avery Dennison Co. (NYSE:AVY) by 1.4% in the 4th quarter, Holdings Channel reports. The firm owned 31,112 shares of the industrial products company’s stock after buying an additional 420 shares during the period. Avery Dennison makes up 2.6% of Palmer Knight Co’s holdings, making the stock its 24th biggest holding. Palmer Knight Co’s holdings in Avery Dennison were worth $5,822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Avery Dennison by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Avery Dennison by 6.8% in 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 acquiring an additional 90,250 shares during the period. World Investment Advisors LLC grew its holdings 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 acquiring an additional 88,491 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Avery Dennison by 12.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after acquiring an additional 46,390 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Avery Dennison by 72.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 96,889 shares of the industrial products company’s stock worth $21,389,000 after acquiring an additional 40,824 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Trading Down 0.3 %

Shares of Avery Dennison stock opened at $192.67 on Thursday. Avery Dennison Co. has a fifty-two week low of $181.99 and a fifty-two week high of $233.48. The firm has a market cap of $15.48 billion, a PE ratio of 23.13, a P/E/G ratio of 1.36 and a beta of 0.89. The business’s fifty day moving average is $193.97 and its two-hundred day moving average is $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.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. Analysts anticipate that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

AVY has been the topic of a number of research reports. Citigroup lowered their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. BMO Capital Markets lowered their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Truist Financial lowered their target price on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, 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. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.05.

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.