D.A. Davidson & CO. Reduces Stake in Avery Dennison Co. (NYSE:AVY)

D.A. Davidson & CO. cut its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,804 shares of the industrial products company’s stock after selling 443 shares during the quarter. D.A. Davidson & CO.’s holdings in Avery Dennison were worth $1,086,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Larson Financial Group LLC grew its holdings in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares during the period. Kennebec Savings Bank purchased a new stake in Avery Dennison in the 3rd quarter worth approximately $36,000. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison during the 4th quarter worth approximately $37,000. Peterson Financial Group Inc. purchased a new position in shares of Avery Dennison during the 3rd quarter valued at approximately $39,000. Finally, Spire Wealth Management lifted 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 period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research report on Friday, January 31st. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price target for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Bank of America lowered their price target 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. Barclays cut their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Stock Up 0.0 %

Shares of AVY opened at $184.34 on Monday. The company’s 50-day moving average price is $187.01 and its 200 day moving average price is $202.56. Avery Dennison Co. has a 12-month low of $178.72 and a 12-month high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The firm has a market cap of $14.81 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 2.06 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, sell-side analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. Avery Dennison’s dividend payout ratio is presently 40.37%.

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.