Trexquant Investment LP Decreases Stock Position in Avery Dennison Co. (NYSE:AVY)

Trexquant Investment LP decreased its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 52.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,305 shares of the industrial products company's stock after selling 28,305 shares during the quarter. Trexquant Investment LP's holdings in Avery Dennison were worth $4,735,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Avery Dennison during the 4th quarter worth approximately $79,000. Geode Capital Management LLC grew its position in shares of Avery Dennison by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company's stock valued at $392,445,000 after buying an additional 13,815 shares during the last quarter. Summit Financial LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at about $296,000. Alliancebernstein L.P. raised its position in shares of Avery Dennison by 3.0% during the fourth quarter. Alliancebernstein L.P. now owns 91,989 shares of the industrial products company's stock worth $17,214,000 after acquiring an additional 2,641 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Avery Dennison by 34.2% in the fourth quarter. Schroder Investment Management Group now owns 378,060 shares of the industrial products company's stock worth $70,788,000 after acquiring an additional 96,428 shares during the period. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Down 3.5 %

Shares of AVY traded down $5.90 on Thursday, reaching $162.96. The company's stock had a trading volume of 423,677 shares, compared to its average volume of 776,098. The stock has a market capitalization of $12.87 billion, a PE ratio of 18.75, a PEG ratio of 2.07 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48. The firm has a fifty day moving average of $179.24 and a 200-day moving average of $193.53.

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

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison's payout ratio is 40.37%.

Analysts Set New Price Targets

AVY has been the topic of a number of recent analyst reports. Truist Financial restated a "buy" rating and issued a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Raymond James reaffirmed 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. Barclays dropped their price objective on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets set a $226.00 target price on Avery Dennison in a report on Monday, February 3rd. Finally, Bank of America reduced 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $220.87.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction on 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.84% of the company's stock.

Avery Dennison Company 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.