Price T Rowe Associates Inc. MD Sells 7,229 Shares of Avery Dennison Co. (NYSE:AVY)

Price T Rowe Associates Inc. MD lowered its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,179,197 shares of the industrial products company's stock after selling 7,229 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.47% of Avery Dennison worth $220,664,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Regents Gate Capital LLP acquired a new position in Avery Dennison during the 4th quarter valued at about $37,000. Spire Wealth Management grew its position in shares of Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 130 shares during the period. AdvisorNet Financial Inc increased its stake in Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after purchasing an additional 58 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in Avery Dennison in the fourth quarter valued at approximately $68,000. Finally, Assetmark Inc. raised its holdings in shares of Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after acquiring an additional 73 shares during the period. Institutional investors own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Raymond James reduced their target price on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Barclays dropped their target price on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Truist Financial reduced their price target on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $205.00 to $172.00 in a report on Thursday, April 24th. Finally, Citigroup cut their price objective 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. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $209.80.

Avery Dennison Stock Performance

NYSE AVY traded up $1.38 on Tuesday, hitting $171.61. 870,402 shares of the stock were exchanged, compared to its average volume of 595,884. The company has a market capitalization of $13.48 billion, a PE ratio of 19.68, a P/E/G 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. The business's fifty day moving average is $176.25 and its 200 day moving average is $189.11. Avery Dennison Co. has a 52 week low of $157.00 and a 52 week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the business posted $2.29 earnings per share. The company's revenue for the quarter was down .1% on a year-over-year basis. Research analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.19%. Avery Dennison's payout ratio is presently 43.32%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares of the company's stock, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is owned by company insiders.

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.