Achmea Investment Management B.V. Trims Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Achmea Investment Management B.V. cut its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 85.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,437 shares of the industrial products company's stock after selling 39,020 shares during the period. Achmea Investment Management B.V.'s holdings in Avery Dennison were worth $1,204,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AVY. Apollon Wealth Management LLC lifted its holdings in shares of Avery Dennison by 7.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,233 shares of the industrial products company's stock valued at $272,000 after purchasing an additional 83 shares during the last quarter. Huntington National Bank lifted its stake in Avery Dennison by 3.1% in the third quarter. Huntington National Bank now owns 3,331 shares of the industrial products company's stock valued at $735,000 after buying an additional 99 shares during the last quarter. Zions Bancorporation N.A. boosted its holdings in shares of Avery Dennison by 76.2% in the third quarter. Zions Bancorporation N.A. now owns 3,283 shares of the industrial products company's stock valued at $725,000 after acquiring an additional 1,420 shares during the period. Metis Global Partners LLC grew its position in shares of Avery Dennison by 21.6% during the third quarter. Metis Global Partners LLC now owns 7,311 shares of the industrial products company's stock worth $1,614,000 after acquiring an additional 1,297 shares during the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Avery Dennison in the 3rd quarter valued at $207,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

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Avery Dennison Price Performance

Shares of NYSE AVY traded down $0.88 during midday trading on Wednesday, hitting $179.05. The company had a trading volume of 548,778 shares, compared to its average volume of 506,459. The firm has a market capitalization of $14.14 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a twelve month low of $174.91 and a twelve month high of $233.48. The business has a 50-day simple moving average of $185.19 and a two-hundred day simple moving average of $198.81. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last posted 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 net margin of 8.05% and a return on equity of 33.06%. Equities research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison's dividend payout ratio is currently 40.37%.

Insider Transactions at Avery Dennison

In other Avery Dennison 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 in the company, 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 SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Raymond James reissued an "outperform" rating and set a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. UBS Group dropped their price target on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Truist Financial reaffirmed a "buy" rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Barclays dropped their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of "Moderate Buy" and an average price target of $222.51.

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.