Condor Capital Management Sells 77 Shares of Avery Dennison Co. (NYSE:AVY)

Condor Capital Management lessened its holdings in Avery Dennison Co. (NYSE:AVY) by 0.6% during the 4th quarter, Holdings Channel reports. 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.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of 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 purchasing an additional 71 shares during the last quarter. Regents Gate Capital LLP bought a new position in shares of Avery Dennison in the 4th quarter valued at about $37,000. Spire Wealth Management boosted its stake in shares of Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Avery Dennison in the 3rd quarter valued at about $66,000. Finally, VisionPoint Advisory Group LLC bought a new position in shares of Avery Dennison in the 4th quarter valued at about $68,000. Institutional investors own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research note on Friday, January 31st. UBS Group reduced 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. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note on Monday, February 3rd. Finally, Barclays reduced 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. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $222.51.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Stock Performance

Shares of AVY stock opened at $179.05 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a 52 week low of $174.91 and a 52 week high of $233.48. The company has a market capitalization of $14.14 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company’s 50 day moving average price is $185.02 and its two-hundred day moving average price is $198.67.

Avery Dennison (NYSE:AVY) last posted 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%. On average, analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.97%. Avery Dennison’s dividend payout ratio (DPR) 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.