Avery Dennison Co. (NYSE:AVY) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lessened its position in shares of Avery Dennison Co. (NYSE:AVY – Get Rating) by 41.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,680 shares of the industrial products company’s stock after selling 13,371 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Avery Dennison were worth $3,381,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVY. Massmutual Trust Co. FSB ADV lifted its holdings in Avery Dennison by 434.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 139 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 113 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Avery Dennison during the fourth quarter valued at $30,000. Eagle Bay Advisors LLC purchased a new position in Avery Dennison during the second quarter valued at $33,000. Spire Wealth Management lifted its holdings in Avery Dennison by 98.4% during the fourth quarter. Spire Wealth Management now owns 246 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 122 shares in the last quarter. Finally, Armstrong Advisory Group Inc. purchased a new position in shares of Avery Dennison in the fourth quarter worth about $48,000. Institutional investors and hedge funds own 89.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Raymond James raised their price target on shares of Avery Dennison from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 25th. Truist Financial reduced their target price on shares of Avery Dennison from $229.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. BMO Capital Markets reduced their target price on shares of Avery Dennison from $240.00 to $233.00 and set an “outperform” rating on the stock in a research note on Monday, February 6th. Finally, StockNews.com began coverage on shares of Avery Dennison in a research note on Thursday. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.29.

Avery Dennison Trading Down 0.1 %

Shares of AVY stock opened at $170.80 on Monday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.73 and a current ratio of 1.13. The stock has a market capitalization of $13.79 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 2.72 and a beta of 0.95. The company has a 50 day moving average price of $173.56 and a 200 day moving average price of $180.41. Avery Dennison Co. has a fifty-two week low of $151.62 and a fifty-two week high of $204.37.

Avery Dennison (NYSE:AVY – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.04. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a net margin of 7.77% and a return on equity of 34.49%. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.40 earnings per share. Equities research analysts predict that Avery Dennison Co. will post 8.98 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be issued a $0.81 dividend. The ex-dividend date is Tuesday, June 6th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.75. Avery Dennison’s payout ratio is 36.10%.

Insiders Place Their Bets

In other Avery Dennison news, Director Julia A. Stewart sold 930 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $172.99, for a total transaction of $160,880.70. Following the completion of the transaction, the director now owns 15,962 shares in the company, valued at approximately $2,761,266.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Avery Dennison news, Director Julia A. Stewart sold 930 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $172.99, for a total transaction of $160,880.70. Following the completion of the transaction, the director now owns 15,962 shares in the company, valued at approximately $2,761,266.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nicholas Colisto sold 3,842 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $180.43, for a total transaction of $693,212.06. Following the transaction, the senior vice president now owns 7,978 shares of the company’s stock, valued at approximately $1,439,470.54. The disclosure for this sale can be found here. Insiders sold 10,572 shares of company stock worth $1,909,693 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

About Avery Dennison

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Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the Materials and Solutions Group segments. The Materials Group segment manufactures and sells pressure-sensitive label materials, films for graphic and reflective products, performance tapes and other adhesive products for industrial, medical and other applications, as well as fastener solutions.