SG Americas Securities LLC Decreases Stock Position in Avery Dennison Corporation (NYSE:AVY)

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

Several other institutional investors have also modified their holdings of the stock. Nomura Holdings Inc. acquired a new position in shares of Avery Dennison in the 4th quarter valued at $496,000. Renaissance Technologies LLC acquired a new position in shares of Avery Dennison in the 4th quarter valued at $11,396,000. Vontobel Holding Ltd. increased its holdings in shares of Avery Dennison by 11.7% in the 4th quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company's stock valued at $268,000 after acquiring an additional 150 shares during the period. DoubleLine ETF Adviser LP acquired a new position in shares of Avery Dennison in the 4th quarter valued at $1,702,000. Finally, Van ECK Associates Corp increased its holdings in shares of Avery Dennison by 9.8% in the 4th quarter. Van ECK Associates Corp now owns 14,521 shares of the industrial products company's stock valued at $2,717,000 after acquiring an additional 1,302 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of NYSE AVY traded up $1.48 during trading on Friday, hitting $175.41. 1,308,424 shares of the company were exchanged, compared to its average volume of 630,268. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.79 and a beta of 0.88. Avery Dennison Corporation has a 1 year low of $157.00 and a 1 year high of $233.48. The firm's fifty day moving average price is $175.84 and its 200 day moving average price is $181.45. 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 issued its 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 for the quarter, compared to analysts' expectations of $2.15 billion. Avery Dennison had a return on equity of 33.11% and a net margin of 7.98%. Avery Dennison's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 earnings per share. On average, sell-side analysts expect 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 given a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.14%. Avery Dennison's payout ratio is currently 43.32%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AVY. Truist Financial cut their target price on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Barclays dropped their price objective on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. BMO Capital Markets dropped their price objective on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Argus cut shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $205.00 to $172.00 in a research note on Thursday, April 24th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.