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

Schechter Investment Advisors LLC cut its stake in shares of Avery Dennison Co. (NYSE:AVY) by 5.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Avery Dennison by 0.3% during the first quarter. Vanguard Group Inc. now owns 9,674,317 shares of the industrial products company’s stock valued at $1,683,041,000 after buying an additional 24,670 shares during the last quarter. BlackRock Inc. boosted its holdings in Avery Dennison by 12.0% in the second quarter. BlackRock Inc. now owns 7,342,715 shares of the industrial products company’s stock valued at $1,261,478,000 after purchasing an additional 787,201 shares during the last quarter. State Street Corp boosted its holdings in 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 valued at $644,658,000 after purchasing an additional 150,945 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Avery Dennison by 22.7% in the third quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock valued at $487,857,000 after purchasing an additional 493,857 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Avery Dennison by 38.5% in the second quarter. Lazard Asset Management LLC now owns 2,316,506 shares of the industrial products company’s stock valued at $397,974,000 after purchasing an additional 643,675 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares in the company, valued at approximately $1,305,217.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock valued at $4,217,705 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Trading Up 2.2 %

Shares of Avery Dennison stock opened at $224.24 on Thursday. The firm has a market capitalization of $18.06 billion, a PE ratio of 36.11, a P/E/G ratio of 3.35 and a beta of 0.90. Avery Dennison Co. has a twelve month low of $158.93 and a twelve month high of $224.24. The firm’s 50-day moving average price is $209.52 and its 200 day moving average price is $195.32. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.16. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $1.65 EPS. On average, sell-side analysts predict that Avery Dennison Co. will post 9.28 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

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

Wall Street Analysts Forecast Growth

AVY has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Truist Financial reiterated a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a research report on Friday, January 19th. Bank of America downgraded 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 downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, UBS Group upped their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus target price of $218.78.

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.