Pure Financial Advisors LLC Cuts Stock Position in Avery Dennison Co. (NYSE:AVY)

Pure Financial Advisors LLC trimmed its stake in shares of Avery Dennison Co. (NYSE:AVY) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,707 shares of the industrial products company’s stock after selling 121 shares during the period. Pure Financial Advisors LLC’s holdings in Avery Dennison were worth $694,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC lifted its stake in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after buying an additional 71 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of Avery Dennison in the third quarter valued at approximately $36,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison in the third quarter worth approximately $39,000. Raleigh Capital Management Inc. increased its position in shares of Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 238 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Avery Dennison in the 3rd quarter valued at $66,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America lowered their target price 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. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Truist Financial dropped their price target on Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, BMO Capital Markets lowered their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.05.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Avery Dennison Trading Up 0.6 %

Shares of AVY stock opened at $192.43 on Wednesday. Avery Dennison Co. has a 1-year low of $181.99 and a 1-year high of $233.48. The firm has a market cap of $15.46 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The company has a 50-day moving average of $194.80 and a two-hundred day moving average of $207.61. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $2.10 EPS. On average, analysts predict that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.83%. Avery Dennison’s dividend payout ratio is currently 42.26%.

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.