Avery Dennison Corporation (NYSE:AVY) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 70.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,471 shares of the industrial products company's stock after selling 10,500 shares during the period. SG Americas Securities LLC's holdings in Avery Dennison were worth $796,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVY. American National Bank & Trust acquired a new position in Avery Dennison in the 1st quarter valued at about $49,000. VisionPoint Advisory Group LLC purchased a new position in shares of Avery Dennison in the fourth quarter valued at approximately $68,000. Assetmark Inc. grew its holdings in shares of Avery Dennison by 22.5% in the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 73 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Avery Dennison by 49.8% in 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 in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in Avery Dennison by 64.6% during the 4th quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock worth $79,000 after buying an additional 166 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Stock Up 0.8%

Shares of NYSE AVY traded up $1.48 during midday trading on Friday, hitting $175.41. 1,308,424 shares of the company's stock were exchanged, compared to its average volume of 629,708. The firm's fifty day simple moving average is $175.72 and its 200-day simple moving average is $181.65. The company has a market cap of $13.71 billion, a PE ratio of 20.21, a P/E/G ratio of 2.79 and a beta of 0.88. Avery Dennison Corporation has a twelve month low of $157.00 and a twelve month high of $233.48. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 0.68.

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

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.94 per share. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 2.14%. The ex-dividend date was Wednesday, June 4th. Avery Dennison's dividend payout ratio (DPR) is currently 43.32%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Robert W. Baird decreased their price target on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. BMO Capital Markets decreased 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. downgraded Avery Dennison from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $205.00 to $172.00 in a report on Thursday, April 24th. Barclays reduced their price target 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, Truist Financial decreased their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison presently has an average rating of "Moderate Buy" and a consensus target price of $206.60.

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.