Avery Dennison Co. (NYSE:AVY) Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,439,791 shares of the industrial products company's stock after selling 197,568 shares during the period. Invesco Ltd. owned about 1.79% of Avery Dennison worth $269,428,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Regents Gate Capital LLP purchased a new position in Avery Dennison in the 4th quarter valued at $37,000. Spire Wealth Management lifted its stake in shares of Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after buying an additional 130 shares in the last quarter. AdvisorNet Financial Inc boosted its position in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after acquiring an additional 58 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new stake in Avery Dennison during the 4th quarter valued at about $68,000. Finally, Assetmark Inc. grew its stake in Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Trading Up 0.2 %

Shares of AVY stock traded up $0.36 on Wednesday, hitting $169.86. The stock had a trading volume of 108,435 shares, compared to its average volume of 784,533. The company's 50 day moving average price is $178.15 and its 200-day moving average price is $192.11. Avery Dennison Co. has a 1 year low of $157.00 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The firm has a market capitalization of $13.41 billion, a P/E ratio of 19.48, a P/E/G ratio of 2.07 and a beta of 0.85.

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

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 2.07%. Avery Dennison's dividend payout ratio is presently 40.37%.

Analyst Ratings Changes

Several research analysts have recently weighed in on AVY shares. Robert W. Baird set a $220.00 target price on Avery Dennison in a report on Friday, January 31st. Raymond James reiterated an "outperform" rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $210.00 to $205.00 in a report on Friday, January 31st. Barclays reduced their target price on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Truist Financial reissued a "buy" rating and issued a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $220.87.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.84% of the company's stock.

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.