Avery Dennison Co. (NYSE:AVY) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lessened its holdings in Avery Dennison Co. (NYSE:AVY) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,970 shares of the industrial products company’s stock after selling 339 shares during the quarter. Cetera Investment Advisers’ holdings in Avery Dennison were worth $2,240,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison during the fourth quarter worth about $37,000. Spire Wealth Management increased its position in shares of Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison during the fourth quarter worth approximately $68,000. AdvisorNet Financial Inc increased its position in shares of Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 58 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

AVY has been the subject of a number of research analyst reports. Argus cut Avery Dennison from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. UBS Group reduced their price target on Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Raymond James reduced their price target on Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on Avery Dennison in a research report on Tuesday, April 22nd. They set a “hold” rating and a $175.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $205.00 to $172.00 in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $206.60.

Avery Dennison Stock Up 0.8%

Shares of Avery Dennison stock opened at $183.27 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The business’s 50 day simple moving average is $173.68 and its 200-day simple moving average is $185.52. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. Equities research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.88. Avery Dennison’s dividend payout ratio (DPR) is 43.32%.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This represents a 2.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by 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.