Concurrent Investment Advisors LLC Sells 448 Shares of Avery Dennison Co. (NYSE:AVY)

Concurrent Investment Advisors LLC cut its stake in Avery Dennison Co. (NYSE:AVY) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,058 shares of the industrial products company’s stock after selling 448 shares during the period. Concurrent Investment Advisors LLC’s holdings in Avery Dennison were worth $947,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AVY. Allspring Global Investments Holdings LLC raised its holdings in shares of Avery Dennison by 19.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,639 shares of the industrial products company’s stock worth $1,024,000 after buying an additional 764 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Avery Dennison by 2.7% in the 3rd quarter. Private Advisor Group LLC now owns 12,488 shares of the industrial products company’s stock worth $2,757,000 after buying an additional 328 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Avery Dennison in the 3rd quarter worth approximately $36,550,000. IFM Investors Pty Ltd raised its holdings in shares of Avery Dennison by 28.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 23,185 shares of the industrial products company’s stock worth $5,118,000 after buying an additional 5,119 shares in the last quarter. Finally, Tectonic Advisors LLC raised its holdings in shares of Avery Dennison by 7.3% in the 3rd quarter. Tectonic Advisors LLC now owns 1,946 shares of the industrial products company’s stock worth $430,000 after buying an additional 132 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Stock Performance

AVY stock opened at $184.34 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 stock has a 50-day moving average price of $187.01 and a 200-day moving average price of $202.56. The firm has a market cap of $14.81 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 2.06 and a beta of 0.89. Avery Dennison Co. has a 1-year low of $178.72 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, equities research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. Avery Dennison’s dividend payout ratio is currently 40.37%.

Analyst Upgrades and Downgrades

AVY has been the subject of a number of recent analyst reports. Barclays dropped their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. BMO Capital Markets set a $226.00 price target on Avery Dennison in a report on Monday, February 3rd. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $210.00 to $205.00 in a report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and set a $208.00 price target (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, UBS Group dropped their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

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.