1,084 Shares in Avery Dennison Co. (NYSE:AVY) Bought by Merit Financial Group LLC

Merit Financial Group LLC bought a new stake in shares of Avery Dennison Co. (NYSE:AVY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,084 shares of the industrial products company’s stock, valued at approximately $203,000.

Several other hedge funds also recently bought and sold shares of the business. Nordea Investment Management AB raised its holdings in shares of Avery Dennison by 485.2% in the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock valued at $6,715,000 after purchasing an additional 29,541 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after buying an additional 90,250 shares during the last quarter. Icon Wealth Advisors LLC lifted its position in Avery Dennison by 553.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock worth $693,000 after acquiring an additional 2,657 shares during the period. Meyer Handelman Co. acquired a new stake in shares of Avery Dennison during the fourth quarter worth about $4,263,000. Finally, JPMorgan Chase & Co. boosted 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 valued at $92,771,000 after acquiring an additional 46,390 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Analysts Set New Price Targets

AVY has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup dropped their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. BMO Capital Markets cut their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Truist Financial reduced their target price on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Barclays lowered their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and an average target price of $235.05.

Avery Dennison Trading Down 1.0 %

Shares of AVY stock opened at $191.33 on Monday. Avery Dennison Co. has a fifty-two week low of $181.99 and a fifty-two week high of $233.48. The firm’s 50 day moving average price is $194.09 and its two-hundred day moving average price is $207.02. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Insider Transactions at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.