Avery Dennison Co. (NYSE:AVY) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC trimmed its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,933 shares of the industrial products company's stock after selling 2,133 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.08% of Avery Dennison worth $11,964,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AVY. Norges Bank acquired a new position in Avery Dennison during the fourth quarter worth about $188,643,000. Raymond James Financial Inc. acquired a new position in shares of Avery Dennison during the 4th quarter worth approximately $51,521,000. Geode Capital Management LLC lifted its stake 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 buying an additional 157,754 shares in the last quarter. Bank of New York Mellon Corp increased its position in Avery Dennison by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company's stock worth $143,078,000 after buying an additional 134,560 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Avery Dennison by 16.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 812,191 shares of the industrial products company's stock worth $151,985,000 after acquiring an additional 112,650 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts recently commented on AVY shares. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research note on Monday, February 3rd. Citigroup cut their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Bank of America decreased their target price on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. UBS Group cut their price target on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $220.87.

Avery Dennison Trading Up 1.7 %

Shares of NYSE AVY traded up $2.81 during midday trading on Friday, hitting $169.39. The stock had a trading volume of 1,090,810 shares, compared to its average volume of 578,301. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 1-year low of $157.00 and a 1-year high of $233.48. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.07 and a beta of 0.85. The company has a fifty day moving average price of $178.64 and a 200 day moving average price of $192.82.

Avery Dennison (NYSE:AVY - Get Free Report) last released 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 return on equity of 33.06% and a net margin of 8.05%. On average, analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.08%. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares of the company's stock, valued at $58,891,897. This represents a 2.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.84% of the company's stock.

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.