Pacer Advisors Inc. Sells 12,230 Shares of Avery Dennison Co. (NYSE:AVY)

Pacer Advisors Inc. cut its stake in Avery Dennison Co. (NYSE:AVY) by 42.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 16,293 shares of the industrial products company’s stock after selling 12,230 shares during the period. Pacer Advisors Inc.’s holdings in Avery Dennison were worth $3,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in shares of 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 bought a new stake in Avery Dennison during the third quarter valued at $36,000. Peterson Financial Group Inc. bought a new position in shares of Avery Dennison in the 3rd quarter worth about $39,000. Raleigh Capital Management Inc. lifted its stake in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 238 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Avery Dennison during the 3rd quarter valued at about $66,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

AVY has been the topic of several recent analyst reports. Bank of America dropped their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. UBS Group dropped their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Citigroup reduced their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Truist Financial reaffirmed a “buy” rating and set a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research note on Friday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.96.

Avery Dennison Trading Up 1.8 %

NYSE AVY opened at $185.85 on Friday. 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 firm has a market capitalization of $14.93 billion, a P/E ratio of 22.31, a PEG ratio of 1.38 and a beta of 0.89. The business has a fifty day simple moving average of $193.54 and a 200 day simple moving average of $206.34. Avery Dennison Co. has a 12 month low of $179.20 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. On average, analysts predict that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is 42.26%.

Insider Buying and Selling

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.