PNC Financial Services Group Inc. Has $6.87 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

PNC Financial Services Group Inc. lessened its stake in Avery Dennison Co. (NYSE:AVY) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,700 shares of the industrial products company’s stock after selling 725 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Avery Dennison were worth $6,868,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Avery Dennison by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after purchasing an additional 157,754 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Avery Dennison by 21.4% during the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock worth $143,078,000 after purchasing an additional 134,560 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Avery Dennison by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after purchasing an additional 3,118 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Avery Dennison by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company’s stock worth $130,821,000 after purchasing an additional 10,674 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Avery Dennison by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company’s stock worth $136,338,000 after purchasing an additional 4,670 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AVY. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research note on Monday, February 3rd. UBS Group dropped their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Raymond James restated an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Finally, Barclays lowered their target price on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $222.51.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $177.24 on Thursday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a fifty-two week low of $177.06 and a fifty-two week high of $233.48. The firm has a fifty day moving average price of $185.77 and a two-hundred day moving average price of $200.08. The company has a market cap of $14.00 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

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

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.