Avery Dennison Co. (NYSE:AVY) Shares Sold by Condor Capital Management

Condor Capital Management trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,210 shares of the industrial products company’s stock after selling 77 shares during the period. Condor Capital Management’s holdings in Avery Dennison were worth $2,472,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVY. Nordea Investment Management AB lifted its stake in shares of Avery Dennison by 485.2% in the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after acquiring an additional 29,541 shares during the period. Icon Wealth Advisors LLC raised its holdings in shares of Avery Dennison by 553.5% during the third quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock valued at $693,000 after acquiring an additional 2,657 shares during the period. Meyer Handelman Co. acquired a new stake in shares of Avery Dennison during the fourth quarter valued at approximately $4,263,000. JPMorgan Chase & Co. raised its holdings in shares of Avery Dennison by 12.4% during the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after acquiring an additional 46,390 shares during the period. Finally, Unigestion Holding SA acquired a new stake in shares of Avery Dennison during the third quarter valued at approximately $6,701,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the sale, the chairman now owns 316,300 shares of the company’s stock, valued at $58,891,897. This represents 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. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $179.05 on Thursday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a fifty-two week low of $174.91 and a fifty-two week high of $233.48. The firm has a fifty day moving average price of $185.02 and a two-hundred day moving average price of $198.67. The company has a market cap of $14.14 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data 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 net margin of 8.05% and a return on equity of 33.06%. Analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Analyst Ratings Changes

AVY has been the topic of several research reports. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note on Monday, February 3rd. UBS Group dropped their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Barclays dropped their price objective 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. Raymond James reiterated an “outperform” rating and issued a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, Bank of America dropped their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

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.