Avery Dennison Co. (NYSE:AVY) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 5.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,980 shares of the industrial products company's stock after selling 4,100 shares during the period. New York State Common Retirement Fund owned approximately 0.09% of Avery Dennison worth $13,657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in 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 valued at $459,621,000 after purchasing an additional 157,754 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 valued at $312,772,000 after purchasing an additional 90,250 shares during the period. World Investment Advisors LLC raised its holdings in Avery Dennison by 2,629.0% in 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 in the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in shares of Avery Dennison by 135.6% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 146,830 shares of the industrial products company's stock worth $27,476,000 after purchasing an additional 84,501 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company's stock valued at $92,771,000 after purchasing an additional 46,390 shares in the last quarter. Institutional investors own 94.17% of the company's stock.

Avery Dennison Trading Up 0.1 %

Avery Dennison stock traded up $0.19 during midday trading on Monday, reaching $184.55. The stock had a trading volume of 569,222 shares, compared to its average volume of 745,512. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The company has a fifty day moving average of $187.01 and a 200 day moving average of $202.56. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.06 and a beta of 0.89.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data 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%. On average, analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.91%. Avery Dennison's dividend payout ratio is presently 40.37%.

Analysts Set New Price Targets

Several brokerages have commented on AVY. Barclays lowered their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Citigroup dropped their price target 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. JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Raymond James restated 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. Finally, Bank of America dropped their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Avery Dennison has a consensus rating of "Moderate Buy" and a consensus target price of $222.51.

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.