New York State Teachers Retirement System Trims Stock Holdings in Avery Dennison Co. (NYSE:AVY)

New York State Teachers Retirement System lessened its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 67,859 shares of the industrial products company's stock after selling 6,467 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Avery Dennison worth $12,698,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Larson Financial Group LLC raised its position in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison in the third quarter valued at about $36,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison during the 3rd quarter worth about $39,000. Regents Gate Capital LLP acquired a new position in Avery Dennison in the fourth quarter worth $37,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of Avery Dennison by 1,400.0% during the third 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 last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

AVY has been the subject of a number of analyst reports. Bank of America lowered their target price on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. Truist Financial restated a "buy" rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. 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. JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Finally, StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $227.15.

Avery Dennison Stock Up 0.0 %

AVY traded up $0.07 during midday trading on Friday, hitting $184.34. The company had a trading volume of 672,244 shares, compared to its average volume of 751,584. The stock's 50 day moving average price is $187.22 and its 200 day moving average price is $202.71. Avery Dennison Co. has a 52 week low of $178.72 and a 52 week 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 company has a market capitalization of $14.81 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.05 and a beta of 0.89.

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 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%. On average, research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison's dividend payout ratio is 40.37%.

Insider Buying and Selling

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm's 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 directly owns 7,126 shares of the company's stock, valued at $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate 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.