Courier Capital LLC Sells 136 Shares of Avery Dennison Co. (NYSE:AVY)

Courier Capital LLC trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,442 shares of the industrial products company’s stock after selling 136 shares during the period. Courier Capital LLC’s holdings in Avery Dennison were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. SouthState Corp grew its stake in shares of Avery Dennison by 130.0% during the 1st quarter. SouthState Corp now owns 138 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 78 shares during the period. Clear Street Markets LLC lifted its holdings in Avery Dennison by 92.7% during the first quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Belpointe Asset Management LLC bought a new position in Avery Dennison during the fourth quarter worth about $30,000. Milestone Investment Advisors LLC purchased a new position in shares of Avery Dennison in the first quarter worth about $35,000. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Avery Dennison in the second quarter valued at approximately $33,000. 91.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group raised shares of Avery Dennison from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $184.00 to $220.00 in a report on Wednesday, August 23rd. StockNews.com began coverage on Avery Dennison in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Loop Capital dropped their price objective on Avery Dennison from $208.00 to $201.00 in a report on Thursday, June 8th. Truist Financial reaffirmed a “buy” rating and set a $215.00 target price on shares of Avery Dennison in a report on Tuesday, September 5th. Finally, Argus lowered their price target on shares of Avery Dennison from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, July 26th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.00.

Avery Dennison Stock Down 0.3 %

AVY stock opened at $181.27 on Thursday. Avery Dennison Co. has a 1-year low of $157.28 and a 1-year high of $195.95. The stock has a market cap of $14.61 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 3.24 and a beta of 0.96. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.44. The company’s 50 day moving average is $181.34 and its 200 day moving average is $175.27.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.13). The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.17 billion. Avery Dennison had a return on equity of 31.13% and a net margin of 6.66%. The business’s revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.64 earnings per share. Sell-side analysts predict that Avery Dennison Co. will post 8.04 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, September 5th. Avery Dennison’s payout ratio is presently 46.69%.

Insiders Place Their Bets

In other news, Director Julia A. Stewart sold 5,633 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $186.14, for a total transaction of $1,048,526.62. Following the transaction, the director now directly owns 10,329 shares of the company’s stock, valued at $1,922,640.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Avery Dennison news, insider Francisco Melo sold 4,800 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $186.00, for a total value of $892,800.00. Following the sale, the insider now owns 16,905 shares of the company’s stock, valued at approximately $3,144,330. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Julia A. Stewart sold 5,633 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $186.14, for a total transaction of $1,048,526.62. Following the completion of the transaction, the director now owns 10,329 shares in the company, valued at approximately $1,922,640.06. The disclosure for this sale can be found here. Insiders sold 10,836 shares of company stock valued at $2,014,000 over the last three months. Insiders own 1.10% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison Corporation operates as materials science and digital identification solutions company. It provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and various converted products and solutions. The company designs and manufactures a range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance.