Viawealth LLC Sells 115 Shares of Avery Dennison Co. (NYSE:AVY)

Viawealth LLC decreased its holdings in Avery Dennison Co. (NYSE:AVY) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,393 shares of the industrial products company’s stock after selling 115 shares during the period. Viawealth LLC’s holdings in Avery Dennison were worth $448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVY. Geode Capital Management LLC lifted its stake in shares of Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after purchasing an additional 157,754 shares during the last quarter. Boston Partners lifted its position in Avery Dennison by 7.7% in the fourth quarter. Boston Partners now owns 926,506 shares of the industrial products company’s stock worth $173,385,000 after buying an additional 66,216 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Avery Dennison by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock worth $143,078,000 after buying an additional 134,560 shares during the period. Massachusetts Financial Services Co. MA increased its position in Avery Dennison by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after acquiring an additional 3,118 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Avery Dennison by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company’s stock valued at $130,821,000 after acquiring an additional 10,674 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the sale, the chairman now owns 316,300 shares of the company’s stock, valued at $58,891,897. This trade represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AVY. Bank of America cut their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Robert W. Baird set a $220.00 target price on Avery Dennison in a research note on Friday, January 31st. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, UBS Group decreased their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $179.05 on Thursday. Avery Dennison Co. has a 12 month low of $174.91 and a 12 month high of $233.48. The stock’s fifty day moving average price is $185.02 and its 200-day moving average price is $198.67. The firm has a market cap of $14.14 billion, a P/E ratio of 20.53, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, equities research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal 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 given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.97%. 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.