Avery Dennison Co. (NYSE:AVY) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its holdings in Avery Dennison Co. (NYSE:AVY) by 56.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,879 shares of the industrial products company’s stock after selling 87,295 shares during the quarter. Prudential Financial Inc. owned 0.08% of Avery Dennison worth $13,254,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Larson Financial Group LLC raised its stake in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares during the period. Regents Gate Capital LLP acquired a new position in Avery Dennison during the fourth quarter worth $37,000. Brooklyn Investment Group purchased a new position in Avery Dennison during the third quarter valued at $66,000. Spire Wealth Management grew its position in shares of Avery Dennison by 76.0% in the fourth 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. Finally, AdvisorNet Financial Inc increased its stake in shares of Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVY shares. Citigroup decreased their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. 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 note on Monday, January 6th. BMO Capital Markets set a $226.00 price target on Avery Dennison in a research report on Monday, February 3rd. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $210.00 to $205.00 in a report on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average target price of $222.51.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.84% of the company’s stock.

Avery Dennison Price Performance

Avery Dennison stock opened at $178.16 on Friday. 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 stock has a market cap of $14.07 billion, a P/E ratio of 20.43, a PEG ratio of 2.07 and a beta of 0.85. The company has a 50-day moving average price of $183.59 and a 200 day moving average price of $197.04. Avery Dennison Co. has a 12-month low of $173.02 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results 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 return on equity of 33.06% and a net margin of 8.05%. Sell-side analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) 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.