Avery Dennison Co. (NYSE:AVY) Shares Sold by Amundi

Amundi lessened its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 42.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 327,531 shares of the industrial products company's stock after selling 236,780 shares during the period. Amundi owned 0.41% of Avery Dennison worth $61,481,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AVY. Raymond James Financial Inc. acquired a new position in Avery Dennison in the 4th quarter valued at about $51,521,000. Geode Capital Management LLC increased its position in Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company's stock valued at $459,621,000 after acquiring an additional 157,754 shares during the period. Bank of New York Mellon Corp increased its position in Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company's stock valued at $143,078,000 after acquiring an additional 134,560 shares during the period. Victory Capital Management Inc. increased its position in Avery Dennison by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock worth $312,772,000 after purchasing an additional 90,250 shares during the period. Finally, World Investment Advisors LLC increased its position in Avery Dennison by 2,629.0% during the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company's stock worth $20,278,000 after purchasing an additional 88,491 shares during the period. Institutional investors and hedge funds own 94.17% of the company's stock.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the company's 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 sale, the chairman now owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $180.23 on Wednesday. The business's 50 day simple moving average is $185.97 and its 200-day simple moving average is $200.24. The firm has a market capitalization of $14.24 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. 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 12 month low of $178.72 and a 12 month high of $233.48.

Remove Ads

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings results 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%. As a group, equities analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Wednesday, March 5th. Avery Dennison's payout ratio is currently 40.37%.

Wall Street Analyst Weigh In

Several research firms have issued reports 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 research report on Monday, January 6th. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research report on Monday, February 3rd. Barclays dropped their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Robert W. Baird set a $220.00 target price on Avery Dennison in a research report on Friday, January 31st. Finally, 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 research report on Friday, January 10th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison presently has a consensus rating of "Moderate Buy" and an average price target of $222.51.

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.

Want to see what other hedge funds are holding AVY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avery Dennison Co. (NYSE:AVY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.