Commonwealth Equity Services LLC Sells 895 Shares of Avery Dennison Co. (NYSE:AVY)

Commonwealth Equity Services LLC reduced its position in Avery Dennison Co. (NYSE:AVY) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 43,087 shares of the industrial products company’s stock after selling 895 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Avery Dennison were worth $8,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC raised its stake in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares in the last quarter. Regents Gate Capital LLP acquired a new position in Avery Dennison during the fourth quarter worth $37,000. Brooklyn Investment Group acquired a new position in Avery Dennison during the third quarter worth $66,000. Spire Wealth Management raised its stake in Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 130 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its stake in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 58 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

Avery Dennison stock opened at $176.77 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 12-month low of $174.91 and a 12-month high of $233.48. The stock has a market cap of $13.96 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 2.07 and a beta of 0.85. The business’s 50-day simple moving average is $184.80 and its 200 day simple moving average is $198.52.

Avery Dennison (NYSE:AVY) last issued 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 return on equity of 33.06% and a net margin of 8.05%. As a group, research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Robert W. Baird set a $220.00 target price on Avery Dennison in a research note on Friday, January 31st. Bank of America lowered their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. UBS Group lowered their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, BMO Capital Markets set a $226.00 target price on Avery Dennison in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Company 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.