Schechter Investment Advisors LLC Has $646,000 Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Schechter Investment Advisors LLC lessened its holdings in Avery Dennison Co. (NYSE:AVY) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,452 shares of the industrial products company’s stock after selling 170 shares during the period. Schechter Investment Advisors LLC’s holdings in Avery Dennison were worth $646,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after purchasing an additional 157,754 shares in the last quarter. Victory Capital Management Inc. raised its position in Avery Dennison by 6.8% in 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 in the last quarter. Bank of New York Mellon Corp grew its stake in Avery Dennison by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock worth $143,078,000 after buying an additional 134,560 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Avery Dennison by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after buying an additional 3,118 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Avery Dennison by 0.3% during the third 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.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVY. UBS Group decreased 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. Bank of America decreased 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. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Barclays decreased 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. Finally, Truist Financial reaffirmed a “buy” rating and set a $215.00 price objective (down from $245.00) 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Price Performance

AVY opened at $181.05 on Wednesday. Avery Dennison Co. has a one year low of $178.72 and a one year high of $233.48. 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 company’s 50 day simple moving average is $186.47 and its 200-day simple moving average is $201.36. The stock has a market capitalization of $14.30 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89.

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%. Sell-side analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.94%. Avery Dennison’s payout ratio is presently 40.37%.

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.