Corient Private Wealth LLC Reduces Position in Avery Dennison Co. (NYSE:AVY)

Corient Private Wealth LLC reduced its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,500 shares of the industrial products company's stock after selling 5,164 shares during the quarter. Corient Private Wealth LLC owned 0.31% of Avery Dennison worth $46,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AVY. Larson Financial Group LLC grew its holdings in shares of Avery Dennison by 100.0% in the 3rd 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 during the period. Regents Gate Capital LLP purchased a new stake in Avery Dennison during the fourth quarter worth $37,000. Brooklyn Investment Group purchased a new stake in Avery Dennison during the third quarter worth $66,000. Spire Wealth Management grew its holdings in Avery Dennison by 76.0% in the fourth 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 last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of Avery Dennison by 18.8% in the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after buying an additional 58 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AVY shares. Bank of America decreased 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 report on Monday, January 6th. Barclays lowered their price target on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Citigroup dropped 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 note on Monday, January 6th. JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Finally, Raymond James reissued an "outperform" rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $222.51.

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Avery Dennison Trading Down 1.3 %

Shares of AVY traded down $2.37 during mid-day trading on Friday, hitting $174.68. The company had a trading volume of 1,492,546 shares, compared to its average volume of 512,318. Avery Dennison Co. has a 1-year low of $173.14 and a 1-year high of $233.48. 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 business's 50-day simple moving average is $184.80 and its 200-day simple moving average is $198.52. The stock has a market cap of $13.79 billion, a PE ratio of 20.03, a P/E/G ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last announced 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 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.02%. Avery Dennison's dividend payout ratio (DPR) is 40.37%.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the sale, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Avery Dennison 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.