Schechter Investment Advisors LLC Sells 299 Shares of Avery Dennison Co. (NYSE:AVY)

Schechter Investment Advisors LLC cut its stake in Avery Dennison Co. (NYSE:AVY) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,963 shares of the industrial products company’s stock after selling 299 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Avery Dennison were worth $1,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. New York Life Investment Management LLC increased its stake in shares of Avery Dennison by 0.5% in the 3rd quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock valued at $2,092,000 after acquiring an additional 58 shares during the last quarter. Signaturefd LLC increased its stake in Avery Dennison by 25.5% during the 3rd quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 61 shares in the last quarter. Advisor Partners II LLC increased its stake in Avery Dennison by 1.9% during the 3rd quarter. Advisor Partners II LLC now owns 3,342 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 63 shares in the last quarter. Yousif Capital Management LLC increased its stake in Avery Dennison by 0.5% during the 1st quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock worth $2,215,000 after purchasing an additional 65 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in Avery Dennison by 56.3% during the 2nd quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 72 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America cut 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 note on Tuesday, January 2nd. UBS Group raised their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Citigroup cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and raised their target price for the company from $197.00 to $214.00 in a research note on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average target price of $218.78.

Insider Activity

In other news, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Ryan D. Yost sold 1,400 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at $606,383.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the transaction, the director now directly owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is owned by company insiders.

Avery Dennison Trading Up 2.2 %

AVY stock opened at $224.24 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. The company has a fifty day moving average price of $209.52 and a two-hundred day moving average price of $195.32. Avery Dennison Co. has a one year low of $158.93 and a one year high of $224.24. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 3.35 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.16. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. Avery Dennison’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 earnings per share. Equities analysts anticipate that Avery Dennison Co. will post 9.28 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.44%. Avery Dennison’s payout ratio is presently 52.17%.

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.