Avery Dennison Co. (NYSE:AVY) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC decreased its holdings in Avery Dennison Co. (NYSE:AVY) by 5.7% in the 4th quarter, HoldingsChannel.com reports. 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 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Avery Dennison by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,674,317 shares of the industrial products company’s stock worth $1,683,041,000 after acquiring an additional 24,670 shares in the last quarter. BlackRock Inc. grew its stake in shares of Avery Dennison by 12.0% in the second quarter. BlackRock Inc. now owns 7,342,715 shares of the industrial products company’s stock worth $1,261,478,000 after acquiring an additional 787,201 shares in the last quarter. State Street Corp grew its stake in shares of Avery Dennison by 4.2% in the second quarter. State Street Corp now owns 3,752,374 shares of the industrial products company’s stock worth $644,658,000 after acquiring an additional 150,945 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Avery Dennison by 22.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after purchasing an additional 493,857 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Avery Dennison by 38.5% during the 2nd quarter. Lazard Asset Management LLC now owns 2,316,506 shares of the industrial products company’s stock worth $397,974,000 after purchasing an additional 643,675 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $224.24 on Thursday. The company has a 50-day simple moving average of $209.52 and a 200-day simple moving average of $195.32. Avery Dennison Co. has a one year low of $158.93 and a one year high of $224.24. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. The stock has a market capitalization of $18.06 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 3.35 and a beta of 0.90.

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

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.81 per share. The ex-dividend date was Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.44%. Avery Dennison’s dividend payout ratio (DPR) is 52.17%.

Insider Transactions at Avery Dennison

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 transaction of $1,074,202.86. Following the transaction, the director now directly owns 5,018 shares in the company, valued at $1,014,940.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the transaction, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the transaction, the director now owns 5,018 shares in the company, valued at $1,014,940.68. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock worth $4,217,705 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVY has been the subject of several recent analyst reports. Raymond James lifted their price objective on shares of Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Bank of America cut shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective for the company. in a research report on Tuesday, January 2nd. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, Truist Financial reaffirmed a “buy” rating and set a $249.00 price objective on shares of Avery Dennison in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.78.

Avery Dennison Company 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.