Avery Dennison Co. (NYSE:AVY) Stake Reduced by City Holding Co.

City Holding Co. decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 19.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,103 shares of the industrial products company’s stock after selling 1,500 shares during the period. City Holding Co.’s holdings in Avery Dennison were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC lifted its holdings in shares of Avery Dennison by 100.0% during the third 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. Kennebec Savings Bank purchased a new stake in Avery Dennison during the third quarter valued at about $36,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison in the third quarter worth about $39,000. Raleigh Capital Management Inc. increased its position in shares of Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 238 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Avery Dennison during the third quarter valued at approximately $66,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In related 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 completion of the sale, the senior vice president now owns 7,126 shares in the company, valued at $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 is available through this link. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Trading Down 0.1 %

Avery Dennison stock opened at $191.07 on Tuesday. Avery Dennison Co. has a one year low of $181.99 and a one year high of $233.48. The company’s fifty day moving average price is $194.80 and its two-hundred day moving average price is $207.61. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 1.29 and a beta of 0.89.

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

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s dividend payout ratio is 42.26%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AVY. Citigroup decreased their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. UBS Group lowered their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Bank of America reduced their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Truist Financial decreased their price target on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.05.

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.