Envestnet Asset Management Inc. Sells 18,288 Shares of Avery Dennison Corporation (NYSE:AVY)

Envestnet Asset Management Inc. lessened its holdings in Avery Dennison Corporation (NYSE:AVY - Free Report) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 480,738 shares of the industrial products company's stock after selling 18,288 shares during the period. Envestnet Asset Management Inc. owned approximately 0.61% of Avery Dennison worth $85,557,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Avery Dennison in the fourth quarter worth about $188,643,000. GAMMA Investing LLC boosted its holdings in shares of Avery Dennison by 19,370.0% in the 1st quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company's stock worth $76,301,000 after purchasing an additional 426,528 shares during the period. DAVENPORT & Co LLC increased its position in shares of Avery Dennison by 905.0% during the 1st quarter. DAVENPORT & Co LLC now owns 324,095 shares of the industrial products company's stock valued at $57,503,000 after purchasing an additional 291,848 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Avery Dennison during the 4th quarter valued at $51,521,000. Finally, Ameriprise Financial Inc. lifted its position in Avery Dennison by 12.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock worth $409,014,000 after buying an additional 250,359 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $205.00 to $172.00 in a report on Thursday, April 24th. Argus lowered Avery Dennison from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. BMO Capital Markets dropped their price objective on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Raymond James Financial reduced their target price on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $196.90.

Avery Dennison Stock Down 1.3%

Shares of Avery Dennison stock traded down $2.43 during trading on Friday, hitting $182.20. 487,015 shares of the stock traded hands, compared to its average volume of 650,352. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19. The stock's fifty day simple moving average is $178.65 and its 200 day simple moving average is $179.91. The firm has a market cap of $14.24 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.59 and a beta of 0.87. Avery Dennison Corporation has a 52-week low of $157.00 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same period last year, the business posted $2.29 EPS. The company's revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts predict that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.94 dividend. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 2.06%. Avery Dennison's payout ratio is 43.32%.

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.