Zions Bancorporation N.A. Has $725,000 Holdings in Avery Dennison Co. (NYSE:AVY)

Zions Bancorporation N.A. lifted its stake in Avery Dennison Co. (NYSE:AVY) by 76.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,283 shares of the industrial products company’s stock after acquiring an additional 1,420 shares during the period. Zions Bancorporation N.A.’s holdings in Avery Dennison were worth $725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC lifted its stake in shares of Avery Dennison by 3.3% in the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after buying an additional 50 shares during the period. Procyon Advisors LLC lifted its position in shares of Avery Dennison by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 56 shares during the period. Bailard Inc. grew its holdings in shares of Avery Dennison by 0.5% during the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock worth $2,668,000 after purchasing an additional 61 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Avery Dennison by 4.5% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 64 shares during the period. Finally, Baker Avenue Asset Management LP raised its stake in shares of Avery Dennison by 7.1% in the third quarter. Baker Avenue Asset Management LP now owns 1,041 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

AVY has been the subject of a number of recent research reports. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and increased their target price for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price target for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Truist Financial increased their price objective on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Barclays reduced their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $244.96.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $64,745,870.60. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 27,108 shares of company stock worth $5,821,497. Insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

Avery Dennison stock opened at $197.73 on Friday. Avery Dennison Co. has a 1 year low of $186.66 and a 1 year high of $233.48. The company’s 50-day moving average is $213.17 and its two-hundred day moving average is $217.66. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The company has a market cap of $15.89 billion, a PE ratio of 23.74, a PEG ratio of 1.56 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.10 EPS. Equities analysts anticipate that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

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.