Avery Dennison Co. (NYSE:AVY) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 499,026 shares of the industrial products company's stock after selling 47,234 shares during the period. Envestnet Asset Management Inc. owned 0.62% of Avery Dennison worth $93,383,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVY. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $37,000. Spire Wealth Management boosted its stake in Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after buying an additional 130 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new stake in Avery Dennison in the 4th quarter valued at $68,000. AdvisorNet Financial Inc increased its stake in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after acquiring an additional 58 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Avery Dennison by 22.5% during the 4th 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 and hedge funds own 94.17% of the company's stock.

Analysts Set New Price Targets

AVY has been the subject of several recent analyst reports. Bank of America cut their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Truist Financial restated a "buy" rating and set a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. Barclays cut their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, BMO Capital Markets set a $226.00 target price on Avery Dennison in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Avery Dennison has a consensus rating of "Moderate Buy" and a consensus price target of $220.87.

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Avery Dennison Trading Up 1.0 %

NYSE:AVY traded up $1.77 on Monday, reaching $171.45. 138,527 shares of the company's stock were exchanged, compared to its average volume of 782,948. The business has a fifty day moving average of $178.64 and a 200-day moving average of $192.62. 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 52-week low of $157.00 and a 52-week high of $233.48. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid 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 dividend yield of 2.05%. Avery Dennison's payout ratio is 40.37%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the sale, the chairman now directly owns 316,300 shares of the company's stock, valued at approximately $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 this link. 0.84% of the stock is owned by corporate insiders.

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.