Distillate Capital Partners LLC Has $15.66 Million Position in Avery Dennison Co. (NYSE:AVY)

Distillate Capital Partners LLC trimmed its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 42.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,703 shares of the industrial products company's stock after selling 61,453 shares during the quarter. Distillate Capital Partners LLC owned 0.10% of Avery Dennison worth $15,663,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AVY. Greenleaf Trust lifted its holdings in shares of Avery Dennison by 4.4% during the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company's stock worth $253,000 after acquiring an additional 57 shares during the period. AdvisorNet Financial Inc lifted its stake in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after purchasing an additional 58 shares during the period. HBK Sorce Advisory LLC boosted its holdings in Avery Dennison by 0.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock valued at $2,220,000 after purchasing an additional 58 shares in the last quarter. RMR Wealth Builders grew its stake in shares of Avery Dennison by 5.7% in the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company's stock valued at $205,000 after purchasing an additional 59 shares during the period. Finally, New York Life Investment Management LLC raised its holdings in shares of Avery Dennison by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company's stock worth $2,055,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AVY shares. UBS Group lowered their price target on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Bank of America dropped their target price on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Barclays dropped their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Finally, Truist Financial reissued a "buy" rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $220.87.

Insider Activity

In other Avery Dennison 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 sale, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.84% of the company's stock.

Avery Dennison Trading Up 1.7 %

AVY traded up $2.83 during trading on Thursday, reaching $170.98. 625,563 shares of the company's stock were exchanged, compared to its average volume of 583,424. The company's fifty day moving average price is $177.94 and its 200-day moving average price is $191.95. The firm has a market capitalization of $13.43 billion, a PE ratio of 19.61, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a fifty-two week low of $157.00 and a fifty-two week high of $233.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY - Get Free Report) last released 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 net margin of 8.05% and a return on equity of 33.06%. As a group, equities analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison's dividend payout ratio is 40.37%.

Avery Dennison 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.