Sumitomo Life Insurance Co. Trims Position in Avery Dennison Co. (NYSE:AVY)

Sumitomo Life Insurance Co. decreased its position in shares of Avery Dennison Co. (NYSE:AVY) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,095 shares of the industrial products company’s stock after selling 184 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Avery Dennison were worth $2,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC boosted its holdings in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison during the 3rd quarter valued at approximately $36,000. Peterson Financial Group Inc. acquired a new position in Avery Dennison in the third quarter valued at approximately $39,000. Raleigh Capital Management Inc. grew its position in Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 238 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in Avery Dennison during the third quarter worth $66,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays decreased their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Bank of America decreased their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets dropped their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Truist Financial decreased their price objective on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, UBS Group dropped their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $235.05.

Insider Buying and Selling

In other news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares in the company, 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. 1.10% of the stock is currently owned by insiders.

Avery Dennison Stock Performance

NYSE:AVY opened at $193.43 on Wednesday. The company has a market cap of $15.54 billion, a price-to-earnings ratio of 23.22, 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. Avery Dennison Co. has a 52 week low of $181.99 and a 52 week high of $233.48. The company has a fifty day simple moving average of $194.04 and a two-hundred day simple moving average of $206.80.

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.