Kentucky Retirement Systems Has $1.04 Million Stake in Avery Dennison Co. (NYSE:AVY)

Kentucky Retirement Systems cut its stake in shares of Avery Dennison Co. (NYSE:AVY) by 1.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,533 shares of the industrial products company’s stock after selling 76 shares during the period. Kentucky Retirement Systems’ holdings in Avery Dennison were worth $1,035,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its holdings in Avery Dennison by 32.4% in the fourth quarter. Venturi Wealth Management LLC now owns 4,492 shares of the industrial products company’s stock worth $841,000 after buying an additional 1,100 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Avery Dennison by 3.5% during the 4th quarter. CIBC Asset Management Inc now owns 16,148 shares of the industrial products company’s stock worth $3,022,000 after acquiring an additional 553 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Avery Dennison by 127.6% during the 4th quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company’s stock worth $373,000 after acquiring an additional 1,097 shares in the last quarter. Figure 8 Investment Strategies LLC acquired a new position in shares of Avery Dennison during the 4th quarter valued at about $1,461,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Avery Dennison by 11.7% in the 4th quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Trading Up 0.0 %

Shares of AVY stock opened at $184.34 on Monday. The company has a market capitalization of $14.81 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.06 and a beta of 0.89. Avery Dennison Co. has a 12-month low of $178.72 and a 12-month high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average price of $187.01 and a 200 day moving average price of $202.56.

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

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is presently 40.37%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Raymond James reaffirmed an “outperform” rating and set a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. UBS Group cut their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research report on Monday, February 3rd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

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.