Achmea Investment Management B.V. Sells 39,020 Shares of Avery Dennison Co. (NYSE:AVY)

Achmea Investment Management B.V. trimmed its position in Avery Dennison Co. (NYSE:AVY) by 85.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,437 shares of the industrial products company’s stock after selling 39,020 shares during the period. Achmea Investment Management B.V.’s holdings in Avery Dennison were worth $1,204,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AVY. Raymond James Financial Inc. bought a new position in shares of Avery Dennison in the 4th quarter valued at $51,521,000. Geode Capital Management LLC lifted its stake in shares of Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after acquiring an additional 157,754 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after acquiring an additional 134,560 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Avery Dennison by 411.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company’s stock worth $23,084,000 after purchasing an additional 99,232 shares during the last quarter. Finally, World Investment Advisors LLC raised its position in Avery Dennison by 2,629.0% during the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after purchasing an additional 88,491 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $178.91 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The business has a 50-day simple moving average of $185.49 and a 200 day simple moving average of $199.52. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a one year low of $174.91 and a one year high of $233.48.

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

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.97%. Avery Dennison’s payout ratio is presently 40.37%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Citigroup lowered their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Bank of America lowered their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Raymond James reaffirmed an “outperform” rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Robert W. Baird set a $220.00 price target on Avery Dennison in a report on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price target on Avery Dennison in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $222.51.

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.