Prudential Financial Inc. Lowers Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Prudential Financial Inc. lessened its position in Avery Dennison Co. (NYSE:AVY) by 56.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 67,879 shares of the industrial products company’s stock after selling 87,295 shares during the quarter. Prudential Financial Inc.’s holdings in Avery Dennison were worth $13,254,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AVY. Larson Financial Group LLC grew its position 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 acquiring an additional 71 shares in the last quarter. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison in the fourth quarter valued at approximately $37,000. Brooklyn Investment Group acquired a new position in shares of Avery Dennison in the third quarter valued at approximately $66,000. Spire Wealth Management increased its stake in Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after buying an additional 130 shares during the period. Finally, AdvisorNet Financial Inc lifted its holdings in Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVY has been the subject of several research reports. Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Robert W. Baird set a $220.00 target price on Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets set a $226.00 price target on Avery Dennison in a research report on Monday, February 3rd. Barclays lowered their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $210.00 to $205.00 in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $178.16 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 52 week low of $173.02 and a 52 week high of $233.48. The firm’s 50 day moving average is $183.59 and its two-hundred day moving average is $197.04. The firm has a market capitalization of $14.07 billion, a P/E ratio of 20.43, a P/E/G ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 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 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.98%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.