Creative Planning Sells 789 Shares of Avery Dennison Co. (NYSE:AVY)

Creative Planning cut its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 6.2% in the 3rd quarter, Holdings Channel reports. The firm owned 11,913 shares of the industrial products company’s stock after selling 789 shares during the period. Creative Planning’s holdings in Avery Dennison were worth $2,630,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Swedbank AB acquired a new stake in Avery Dennison in the first quarter valued at about $102,117,000. Jennison Associates LLC bought a new stake in Avery Dennison during the 1st quarter worth $44,837,000. National Bank of Canada FI increased its holdings in Avery Dennison by 795.2% in the 2nd quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock worth $34,190,000 after purchasing an additional 142,348 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Avery Dennison by 179.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock valued at $47,258,000 after purchasing an additional 138,808 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its stake in shares of Avery Dennison by 51.9% during the second quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock valued at $52,497,000 after purchasing an additional 81,993 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock valued at $12,545,087 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $207.16 on Friday. 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 company has a market capitalization of $16.69 billion, a PE ratio of 30.24, a P/E/G ratio of 1.78 and a beta of 0.88. The firm has a fifty day simple moving average of $216.73 and a 200 day simple moving average of $218.44. Avery Dennison Co. has a twelve month low of $165.21 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company posted $2.10 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is 51.39%.

Wall Street Analyst Weigh In

AVY has been the subject of several recent research reports. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. BMO Capital Markets dropped their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Finally, Truist Financial increased their price objective on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $245.42.

Avery Dennison Company 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.