Congress Asset Management Co. Sells 18,933 Shares of Avery Dennison Co. (NYSE:AVY)

Congress Asset Management Co. cut its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 23.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,069 shares of the industrial products company's stock after selling 18,933 shares during the quarter. Congress Asset Management Co. owned 0.08% of Avery Dennison worth $11,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nordea Investment Management AB boosted its stake in shares of Avery Dennison by 485.2% during the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company's stock valued at $6,715,000 after purchasing an additional 29,541 shares during the period. Victory Capital Management Inc. boosted 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 valued at $312,772,000 after buying an additional 90,250 shares during the period. Icon Wealth Advisors LLC grew its holdings in Avery Dennison by 553.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company's stock worth $693,000 after acquiring an additional 2,657 shares during the last quarter. Meyer Handelman Co. purchased a new position in shares of Avery Dennison in the fourth quarter valued at about $4,263,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Avery Dennison by 12.4% during the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company's stock valued at $92,771,000 after acquiring an additional 46,390 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Transactions at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Avery Dennison Stock Up 0.8 %

NYSE AVY traded up $1.40 during trading hours on Thursday, reaching $184.38. 700,036 shares of the company's stock traded hands, compared to its average volume of 753,989. The firm has a market cap of $14.81 billion, a PE ratio of 21.14, a PEG ratio of 2.06 and a beta of 0.89. 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 52-week low of $178.72 and a 52-week high of $233.48. The firm has a 50-day simple moving average of $187.49 and a 200 day simple moving average of $202.83.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) 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%. Sell-side analysts anticipate that Avery Dennison Co. will post 9.97 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. Avery Dennison's payout ratio is presently 40.37%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Bank of America cut their target price 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. Citigroup cut their price objective 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. UBS Group decreased their target price on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Raymond James reiterated an "outperform" rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, BMO Capital Markets decreased their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $227.15.

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.