Fmr LLC Lowers Position in Avery Dennison Co. (NYSE:AVY)

FMR LLC cut its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 39.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 559,943 shares of the industrial products company's stock after selling 361,534 shares during the period. FMR LLC owned 0.70% of Avery Dennison worth $104,782,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison during the fourth quarter worth $37,000. Spire Wealth Management boosted its position in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after acquiring an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison during the fourth quarter valued at approximately $68,000. AdvisorNet Financial Inc boosted its holdings in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 58 shares in the last quarter. Finally, Assetmark Inc. increased its stake in shares of Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 73 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AVY shares. Bank of America reduced their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. UBS Group dropped their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Citigroup dropped their target price on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and cut their target price for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $220.87.

Avery Dennison Trading Up 1.7 %

Shares of AVY stock traded up $2.83 during trading hours on Friday, reaching $170.98. The company's stock had a trading volume of 625,563 shares, compared to its average volume of 584,959. The stock has a market capitalization of $13.43 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.07 and a beta of 0.85. The firm's fifty day simple moving average is $177.54 and its 200 day simple moving average is $191.27. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Equities research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given 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 presently 40.37%.

Insider Buying and Selling at Avery Dennison

In related 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 completion of the sale, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is owned by company insiders.

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.