Raymond James & Associates Sells 4,596 Shares of Avery Dennison Co. (NYSE:AVY)

Raymond James & Associates lowered its position in shares of Avery Dennison Co. (NYSE:AVY) by 1.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 257,956 shares of the industrial products company’s stock after selling 4,596 shares during the quarter. Raymond James & Associates owned about 0.32% of Avery Dennison worth $56,402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Taylor Frigon Capital Management LLC boosted its holdings in Avery Dennison by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after acquiring an additional 48 shares during the last quarter. Albert D Mason Inc. lifted its stake in Avery Dennison by 0.7% in the first quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock valued at $1,665,000 after buying an additional 51 shares during the period. Alliance Wealth Advisors LLC UT lifted its stake in Avery Dennison by 1.5% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock valued at $776,000 after buying an additional 56 shares during the period. First Trust Direct Indexing L.P. lifted its stake in Avery Dennison by 5.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock valued at $242,000 after buying an additional 57 shares during the period. Finally, Condor Capital Management lifted its stake in Avery Dennison by 0.4% in the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock valued at $2,773,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Trading Up 0.2 %

NYSE AVY opened at $212.97 on Monday. The firm has a market capitalization of $17.16 billion, a P/E ratio of 31.09, a PEG ratio of 1.77 and a beta of 0.88. The business has a fifty day simple moving average of $217.79 and a 200 day simple moving average of $217.32. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $233.48. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. Avery Dennison’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.92 EPS. On average, analysts predict that Avery Dennison Co. will post 9.39 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.65%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AVY. JPMorgan Chase & Co. boosted their price target on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Argus boosted their price target on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Truist Financial boosted their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup upped their target price on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Finally, BMO Capital Markets lowered their target price on Avery Dennison from $256.00 to $254.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $239.96.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $65,004,367.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $206.82, for a total transaction of $620,460.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $62,896,857.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. The disclosure for this sale can be found here. Insiders sold 27,939 shares of company stock worth $5,952,076 in the last quarter. 1.10% of the stock is currently owned by company insiders.

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.