Pacer Advisors Inc. Sells 12,230 Shares of Avery Dennison Co. (NYSE:AVY)

Pacer Advisors Inc. lessened its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 42.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,293 shares of the industrial products company's stock after selling 12,230 shares during the period. Pacer Advisors Inc.'s holdings in Avery Dennison were worth $3,049,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of AVY. Larson Financial Group LLC increased its position in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock worth $31,000 after acquiring an additional 71 shares in the last quarter. Kennebec Savings Bank acquired a new position in Avery Dennison in the 3rd quarter worth $36,000. Peterson Financial Group Inc. bought a new position in Avery Dennison during the 3rd quarter worth about $39,000. Raleigh Capital Management Inc. raised its stake in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 238 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Avery Dennison in the third quarter valued at about $66,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction on Monday, November 25th. The stock was 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 owns 7,126 shares of the company's stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. 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 currently owned by insiders.

Avery Dennison Stock Performance

NYSE AVY traded down $0.60 during trading on Tuesday, reaching $182.75. 725,855 shares of the company's stock were exchanged, compared to its average volume of 789,807. Avery Dennison Co. has a fifty-two week low of $179.20 and a fifty-two week high of $233.48. The stock has a market capitalization of $14.68 billion, a P/E ratio of 20.96, a PEG ratio of 1.37 and a beta of 0.89. The business has a 50 day moving average price of $192.72 and a 200-day moving average price of $205.59. 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 (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 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%. Sell-side analysts forecast that Avery Dennison Co. will post 10.03 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Wednesday, March 5th. Avery Dennison's dividend payout ratio is presently 40.37%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Truist Financial reiterated a "buy" rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a report on Friday. BMO Capital Markets decreased their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. UBS Group cut their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their target price for the company from $210.00 to $205.00 in a research report on Friday. Finally, Citigroup cut their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently 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.