Pure Financial Advisors LLC Sells 121 Shares of Avery Dennison Co. (NYSE:AVY)

Pure Financial Advisors LLC decreased its position in shares of Avery Dennison Co. (NYSE:AVY) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,707 shares of the industrial products company’s stock after selling 121 shares during the period. Pure Financial Advisors LLC’s holdings in Avery Dennison were worth $694,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after acquiring an additional 157,754 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after purchasing an additional 90,250 shares during the period. World Investment Advisors LLC increased its position in shares of Avery Dennison by 2,629.0% during the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after purchasing an additional 88,491 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Avery Dennison during the second quarter valued at $11,733,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after acquiring an additional 46,390 shares during the period. 94.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AVY shares. 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. UBS Group cut their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Barclays decreased their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. BMO Capital Markets cut their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average target price of $235.05.

Avery Dennison Trading Up 0.6 %

NYSE AVY opened at $192.43 on Wednesday. The company has a fifty day moving average of $194.80 and a 200 day moving average of $207.61. The company has a market capitalization of $15.46 billion, a PE ratio of 23.10, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. Avery Dennison Co. has a 1 year low of $181.99 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the business earned $2.10 earnings per share. Avery Dennison’s quarterly revenue was up 4.1% on a year-over-year basis. Research analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s dividend payout ratio is currently 42.26%.

Insider Activity at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by company insiders.

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.