Parkside Financial Bank & Trust Purchases 288 Shares of Avery Dennison Co. (NYSE:AVY)

Parkside Financial Bank & Trust grew its position in Avery Dennison Co. (NYSE:AVY) by 250.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 403 shares of the industrial products company’s stock after purchasing an additional 288 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Avery Dennison were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Avery Dennison during the third quarter valued at $32,000. Milestone Investment Advisors LLC purchased a new stake in Avery Dennison during the third quarter valued at $36,000. Anchor Investment Management LLC purchased a new stake in Avery Dennison during the fourth quarter valued at $42,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 166 shares in the last quarter. Finally, Adirondack Trust Co. purchased a new stake in Avery Dennison during the third quarter valued at $55,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AVY. Raymond James reissued an “outperform” rating and issued a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group increased their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Citigroup upped their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Finally, Truist Financial restated a “buy” rating and issued a $249.00 price target on shares of Avery Dennison in a report on Friday, January 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.60.

Avery Dennison Stock Up 2.2 %

Shares of Avery Dennison stock opened at $217.09 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $225.26. The firm’s 50-day moving average is $215.51 and its two-hundred day moving average is $200.13. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 3.28 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting the consensus estimate of $2.16. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. As a group, research analysts expect that Avery Dennison Co. will post 9.26 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Tuesday, March 5th. Avery Dennison’s payout ratio is 47.30%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the transaction, the director now directly owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is currently owned by insiders.

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.