State of New Jersey Common Pension Fund D Cuts Position in Avery Dennison Co. (NYSE:AVY)

State of New Jersey Common Pension Fund D trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 9.8% during the 3rd quarter, Holdings Channel reports. The fund owned 25,116 shares of the industrial products company’s stock after selling 2,735 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Avery Dennison were worth $5,545,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AVY. Innealta Capital LLC purchased a new position in shares of Avery Dennison in the 2nd quarter worth $28,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison during the 2nd quarter valued at approximately $42,000. 1620 Investment Advisors Inc. bought a new stake in Avery Dennison in the second quarter worth $51,000. Raleigh Capital Management Inc. grew its stake 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 valued at $56,000 after buying an additional 238 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in Avery Dennison by 936.7% in the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 281 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $211.91, for a total transaction of $2,119,100.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $64,444,797.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $211.91, for a total value of $2,119,100.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $64,444,797.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,108 shares of company stock valued at $7,940,597 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Stock Down 0.2 %

AVY opened at $204.72 on Tuesday. The company has a fifty day moving average of $214.56 and a two-hundred day moving average of $218.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison Co. has a fifty-two week low of $178.29 and a fifty-two week high of $233.48. The stock has a market capitalization of $16.45 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.58 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the business posted $2.10 earnings per share. Avery Dennison’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.72%. Avery Dennison’s dividend payout ratio is currently 42.26%.

Wall Street Analyst Weigh In

AVY has been the topic of a number of recent research reports. Barclays dropped their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Truist Financial boosted their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Citigroup reduced their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Finally, Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and increased their target price for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.96.

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.