PharVision Advisers LLC Takes Position in Avery Dennison Co. (NYSE:AVY)

PharVision Advisers LLC bought a new stake in Avery Dennison Co. (NYSE:AVY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,122 shares of the industrial products company's stock, valued at approximately $397,000.

Other large investors also recently bought and sold shares of the company. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison in the 4th quarter worth $37,000. Spire Wealth Management lifted its holdings in shares of Avery Dennison by 76.0% in the 4th 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 during the last quarter. VisionPoint Advisory Group LLC purchased a new position in Avery Dennison in the fourth quarter worth about $68,000. Assetmark Inc. increased its stake in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after acquiring an additional 73 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Avery Dennison by 49.8% during the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 136 shares during the period. Institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Up 0.2%

Shares of NYSE AVY opened at $183.93 on Wednesday. Avery Dennison Co. has a 52-week low of $157.00 and a 52-week high of $233.48. The firm has a market capitalization of $14.38 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.07 and a beta of 0.88. The stock has a 50 day moving average price of $173.97 and a 200 day moving average price of $185.35. 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 issued its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the firm earned $2.29 earnings per share. The company's revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.76 annualized dividend and a dividend yield of 2.04%. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's payout ratio is currently 43.32%.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AVY. BMO Capital Markets dropped their target price on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $205.00 to $172.00 in a research note on Thursday, April 24th. Raymond James cut their price objective on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. UBS Group lowered their target price on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Jefferies Financial Group began coverage on shares of Avery Dennison in a report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $206.60.

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.

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