Thrivent Financial for Lutherans Sells 2,807 Shares of Avery Dennison Co. (NYSE:AVY)

Thrivent Financial for Lutherans lessened its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 45.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,309 shares of the industrial products company's stock after selling 2,807 shares during the period. Thrivent Financial for Lutherans' holdings in Avery Dennison were worth $730,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AVY. Innealta Capital LLC acquired a new stake in shares of Avery Dennison during the second quarter worth approximately $28,000. Kennebec Savings Bank acquired a new stake in shares of Avery Dennison during the third quarter worth approximately $36,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison during the third quarter worth approximately $39,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Avery Dennison during the second quarter worth approximately $42,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Avery Dennison during the second quarter worth approximately $51,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Barclays lowered their price target on shares of Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, October 28th. BMO Capital Markets lowered their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Finally, Bank of America raised shares of Avery Dennison from an "underperform" rating to a "buy" rating and raised their price target for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Avery Dennison currently has a consensus rating of "Moderate Buy" and an average price target of $244.96.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

Avery Dennison Trading Up 0.2 %

Shares of NYSE AVY traded up $0.46 during midday trading on Wednesday, reaching $204.77. 128,039 shares of the stock were exchanged, compared to its average volume of 472,024. The business has a 50-day simple moving average of $209.34 and a two-hundred day simple moving average of $215.70. The company has a market capitalization of $16.45 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 1.58 and a beta of 0.87. Avery Dennison Co. has a 12 month low of $190.04 and a 12 month high of $233.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $2.10 earnings per share. As a group, equities research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.72%. Avery Dennison's dividend payout ratio is currently 42.26%.

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.