Silvercrest Asset Management Group LLC Sells 6,692 Shares of Avery Dennison Co. (NYSE:AVY)

Silvercrest Asset Management Group LLC reduced its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 414,427 shares of the industrial products company's stock after selling 6,692 shares during the quarter. Silvercrest Asset Management Group LLC owned 0.52% of Avery Dennison worth $77,552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Greenleaf Trust raised its position in shares of Avery Dennison by 4.4% during the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company's stock valued at $253,000 after buying an additional 57 shares in the last quarter. AdvisorNet Financial Inc raised 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 valued at $69,000 after purchasing an additional 58 shares during the period. HBK Sorce Advisory LLC lifted its stake in shares of Avery Dennison by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock valued at $2,220,000 after purchasing an additional 58 shares during the last quarter. RMR Wealth Builders boosted its holdings in shares of Avery Dennison by 5.7% in the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company's stock worth $205,000 after purchasing an additional 59 shares during the period. Finally, Baker Avenue Asset Management LP increased its position in shares of Avery Dennison by 5.7% during the 4th quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company's stock valued at $206,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. The trade was a 2.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.84% of the company's stock.

Avery Dennison Stock Performance

Shares of AVY stock opened at $181.85 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.07 and a beta of 0.88. The stock's 50-day moving average is $173.62 and its two-hundred day moving average is $185.98. Avery Dennison Co. has a 1 year low of $157.00 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the previous year, the company posted $2.29 EPS. The firm's quarterly revenue was down .1% compared to the same quarter last year. Analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date is Wednesday, June 4th. Avery Dennison's dividend payout ratio is presently 43.32%.

Analysts Set New Price Targets

Several brokerages have issued reports on AVY. Truist Financial decreased their price objective on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. BMO Capital Markets cut their price target on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $205.00 to $172.00 in a research report on Thursday, April 24th. Raymond James lowered their price target on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group decreased their target price on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Avery Dennison currently has an average rating of "Moderate Buy" and an average price target of $206.60.

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.

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