Avery Dennison Co. (NYSE:AVY) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 88.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,728 shares of the industrial products company's stock after selling 247,423 shares during the period. Voya Investment Management LLC's holdings in Avery Dennison were worth $6,124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVY. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $37,000. Spire Wealth Management raised its holdings in shares of Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in Avery Dennison in the fourth quarter worth about $68,000. AdvisorNet Financial Inc grew its holdings in Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after acquiring an additional 58 shares in the last quarter. Finally, Assetmark Inc. increased its position in Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 73 shares during the period. Institutional investors own 94.17% of the company's stock.

Wall Street Analyst Weigh In

AVY has been the topic of a number of recent research reports. Citigroup dropped their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group initiated coverage on Avery Dennison in a report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price target on the stock. Robert W. Baird decreased their price objective on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Barclays dropped their price objective on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, BMO Capital Markets decreased their price target on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Avery Dennison currently has an average rating of "Moderate Buy" and a consensus target price of $209.80.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the transaction, the chairman now directly owns 316,300 shares in the company, valued at $58,891,897. The trade was a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.84% of the company's stock.

Avery Dennison Stock Performance

Shares of NYSE AVY traded down $0.66 during midday trading on Tuesday, reaching $170.28. The company had a trading volume of 78,456 shares, compared to its average volume of 597,754. Avery Dennison Co. has a 1 year low of $157.00 and a 1 year high of $233.48. The business's 50-day simple moving average is $174.83 and its 200 day simple moving average is $187.45. 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 market cap of $13.31 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The business's revenue was down .1% on a year-over-year basis. During the same quarter last year, the business earned $2.29 EPS. On average, analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 2.21%. Avery Dennison's dividend payout ratio (DPR) is currently 43.32%.

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.