Avery Dennison Co. (NYSE:AVY) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 73.1% during the fourth quarter, HoldingsChannel reports. The firm owned 14,971 shares of the industrial products company’s stock after selling 40,604 shares during the quarter. SG Americas Securities LLC’s holdings in Avery Dennison were worth $2,802,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AVY. Geode Capital Management LLC grew its holdings in Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after buying an additional 157,754 shares during the period. Victory Capital Management Inc. increased its position in Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after purchasing an additional 90,250 shares during the last quarter. Meridiem Investment Management Ltd. raised its stake in Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after purchasing an additional 5,756 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Avery Dennison by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after purchasing an additional 3,118 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Avery Dennison by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock worth $151,975,000 after buying an additional 1,782 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Avery Dennison Trading Down 1.0 %

Shares of NYSE AVY opened at $191.33 on Friday. The stock has a market capitalization of $15.37 billion, a P/E ratio of 22.97, a PEG ratio of 1.36 and a beta of 0.89. The stock’s 50 day moving average price is $194.09 and its two-hundred day moving average price is $207.02. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 52-week low of $181.99 and a 52-week high of $233.48.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on AVY. Truist Financial reduced their target price on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Bank of America cut their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Citigroup reduced their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and an average target price of $235.05.

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.