Avery Dennison Co. (NYSE:AVY) Stock Position Reduced by Tredje AP fonden

Tredje AP fonden reduced its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,603 shares of the industrial products company's stock after selling 8,603 shares during the period. Tredje AP fonden's holdings in Avery Dennison were worth $1,610,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AVY. Larson Financial Group LLC boosted 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 valued at $31,000 after buying an additional 71 shares during the period. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison in the 4th quarter valued at about $37,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison in the 3rd quarter valued at about $39,000. Spire Wealth Management boosted its holdings in shares of Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after buying an additional 130 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Avery Dennison in the 3rd quarter valued at about $66,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares of the company's stock, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.10% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group reduced their target price on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Barclays reduced their target price on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised shares of 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. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research note on Monday, February 3rd. Finally, Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.51.

Avery Dennison Price Performance

Shares of NYSE AVY traded down $0.88 during midday trading on Wednesday, reaching $179.05. The company's stock had a trading volume of 548,794 shares, compared to its average volume of 506,459. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The company has a 50 day moving average price of $185.19 and a 200 day moving average price of $198.81. Avery Dennison Co. has a one year low of $174.91 and a one year high of $233.48. The company has a market cap of $14.14 billion, a price-to-earnings ratio of 20.53, 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 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%. On average, equities research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.97%. Avery Dennison's payout ratio is currently 40.37%.

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.