Avery Dennison Co. (NYSE:AVY) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its stake in Avery Dennison Co. (NYSE:AVY) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,182 shares of the industrial products company’s stock after selling 541 shares during the quarter. Yousif Capital Management LLC’s holdings in Avery Dennison were worth $2,261,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AVY. Ameriprise Financial Inc. lifted its stake in shares of Avery Dennison by 22.7% in the third quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after buying an additional 493,857 shares in the last quarter. Morgan Stanley grew its holdings in shares of Avery Dennison by 55.7% in the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after purchasing an additional 639,521 shares in the last quarter. Cerity Partners LLC grew its holdings in Avery Dennison by 4,159.9% during the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after acquiring an additional 1,163,264 shares in the last quarter. Truist Financial Corp grew its holdings in Avery Dennison by 5.5% during the 3rd quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company’s stock worth $200,302,000 after acquiring an additional 57,106 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Avery Dennison by 43.9% during the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock worth $184,026,000 after buying an additional 307,325 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Down 0.5 %

Shares of Avery Dennison stock opened at $217.28 on Wednesday. The company has a market cap of $17.50 billion, a P/E ratio of 31.72, a PEG ratio of 3.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. Avery Dennison Co. has a one year low of $158.93 and a one year high of $225.26. The firm has a fifty day moving average of $216.05 and a two-hundred day moving average of $201.07.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting analysts’ consensus estimates of $2.16. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. Avery Dennison’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 EPS. On average, analysts forecast that Avery Dennison Co. will post 9.26 earnings per share for the current year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.62%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio is presently 47.30%.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Ignacio J. Walker sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the transaction, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,879 shares of company stock worth $4,217,705. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AVY shares. JPMorgan Chase & Co. boosted their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Raymond James restated an “outperform” rating and set a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Bank of America downgraded shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target for the company. in a research report on Tuesday, January 2nd. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Finally, Robert W. Baird upped their price target on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Avery Dennison Profile

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.