Commonwealth Equity Services LLC Has $8.06 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Commonwealth Equity Services LLC lessened its stake in shares of Avery Dennison Co. (NYSE:AVY) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,087 shares of the industrial products company’s stock after selling 895 shares during the period. Commonwealth Equity Services LLC owned about 0.05% of Avery Dennison worth $8,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Greenleaf Trust raised its holdings in Avery Dennison by 4.4% during the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock worth $253,000 after buying an additional 57 shares during the period. AdvisorNet Financial Inc increased its holdings in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 58 shares during the period. HBK Sorce Advisory LLC increased its holdings in shares of Avery Dennison by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock valued at $2,220,000 after purchasing an additional 58 shares during the period. Cynosure Group LLC increased its holdings in shares of Avery Dennison by 3.6% in the 3rd quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock valued at $378,000 after purchasing an additional 59 shares during the period. Finally, RMR Wealth Builders increased its holdings in shares of Avery Dennison by 5.7% in the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AVY. Citigroup dropped their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. UBS Group dropped their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Raymond James reiterated an “outperform” rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Bank of America dropped their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Barclays dropped their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.51.

Insider Activity

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

Avery Dennison Stock Down 1.3 %

Shares of Avery Dennison stock opened at $176.77 on Friday. The stock has a market capitalization of $13.96 billion, a P/E ratio of 20.27, a PEG ratio of 2.07 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The stock has a 50 day moving average price of $184.80 and a two-hundred day moving average price of $198.52. Avery Dennison Co. has a 12-month low of $174.91 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Equities analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current 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 given a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.99%. Avery Dennison’s dividend payout ratio is 40.37%.

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.