Avery Dennison Co. (NYSE:AVY) Shares Sold by Raymond James & Associates

Raymond James & Associates lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 6.5% during the third quarter, HoldingsChannel reports. The fund owned 241,289 shares of the industrial products company’s stock after selling 16,667 shares during the period. Raymond James & Associates’ holdings in Avery Dennison were worth $53,267,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in shares of Avery Dennison by 195.2% during the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock worth $3,988,000 after purchasing an additional 11,811 shares during the period. Natixis lifted its position in shares of Avery Dennison by 365.9% during the 1st quarter. Natixis now owns 4,552 shares of the industrial products company’s stock valued at $1,016,000 after acquiring an additional 3,575 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of Avery Dennison during the 1st quarter worth approximately $2,935,000. SG Americas Securities LLC grew its holdings in shares of Avery Dennison by 86.5% in the 2nd quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock worth $7,114,000 after acquiring an additional 15,092 shares during the period. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in Avery Dennison in the 2nd quarter valued at approximately $543,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $214.21, for a total value of $2,142,100.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $65,144,259.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is owned by company insiders.

Avery Dennison Trading Down 0.9 %

Shares of Avery Dennison stock opened at $215.41 on Tuesday. Avery Dennison Co. has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The business’s fifty day moving average is $216.96 and its two-hundred day moving average is $218.74. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The firm has a market cap of $17.35 billion, a PE ratio of 31.45, a P/E/G ratio of 1.78 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.16. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.92 earnings per share. Analysts anticipate that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.88 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.63%. Avery Dennison’s dividend payout ratio is presently 51.39%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVY. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and upped their target price for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Truist Financial raised their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays started coverage on shares of Avery Dennison in a report on Monday, October 7th. They issued an “overweight” rating and a $250.00 price target on the stock. BMO Capital Markets reissued an “outperform” rating and set a $252.00 price objective (down from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Finally, Stifel Nicolaus initiated coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price on the stock. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $246.78.

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.