Avery Dennison Co. (NYSE:AVY) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lowered its position in shares of Avery Dennison Co. (NYSE:AVY) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,302 shares of the industrial products company’s stock after selling 83 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Avery Dennison were worth $1,179,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its position in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Avery Dennison in the 3rd quarter valued at $36,000. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison in the 4th quarter valued at $37,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison in the 3rd quarter valued at $39,000. Finally, Spire Wealth Management boosted its holdings in shares of Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group decreased their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Barclays decreased their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. JPMorgan Chase & Co. raised shares of 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 note on Friday, January 31st. Finally, Raymond James reissued an “outperform” rating and issued a $208.00 target price (down previously from $218.00) 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 given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Stock Performance

Avery Dennison stock opened at $188.07 on Friday. Avery Dennison Co. has a 12-month low of $178.72 and a 12-month high of $233.48. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89. 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’s fifty day moving average price is $186.69 and its 200 day moving average price is $201.83.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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%. On average, research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

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.