Avery Dennison Co. (NYSE:AVY) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its stake in Avery Dennison Co. (NYSE:AVY) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,558 shares of the industrial products company’s stock after purchasing an additional 106 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Avery Dennison were worth $2,350,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AVY. Geode Capital Management LLC lifted its holdings in shares of Avery Dennison by 8.2% during 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 acquiring an additional 157,754 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Avery Dennison by 21.4% during the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after acquiring an additional 134,560 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Avery Dennison by 0.4% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Avery Dennison by 1.6% during the 4th 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 in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Avery Dennison by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company’s stock valued at $136,338,000 after acquiring an additional 4,670 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

AVY has been the topic of several recent research reports. Bank of America reduced their target price 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 price target on shares of Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Trading Down 1.3 %

Avery Dennison stock opened at $176.77 on Friday. The firm has a 50-day moving average price of $184.80 and a two-hundred day moving average price of $198.52. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 52-week low of $174.91 and a 52-week high of $233.48. 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 (NYSE:AVY) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. Sell-side analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s dividend payout ratio is currently 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.