Avery Dennison Co. (NYSE:AVY) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 4.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,349,871 shares of the industrial products company's stock after selling 66,927 shares during the period. Victory Capital Management Inc. owned about 1.68% of Avery Dennison worth $252,601,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AVY. 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 worth $31,000 after acquiring an additional 71 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Avery Dennison in the third quarter valued at about $36,000. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison in the fourth quarter valued at about $37,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison in the third quarter valued at about $39,000. Finally, Spire Wealth Management raised its position in shares of Avery Dennison by 76.0% in the fourth 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 last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Trading Up 0.8 %

AVY stock traded up $1.54 during mid-day trading on Friday, hitting $183.94. 1,195,522 shares of the company were exchanged, compared to its average volume of 753,032. 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 firm has a market capitalization of $14.53 billion, a P/E ratio of 21.09, a PEG ratio of 2.07 and a beta of 0.85. The business has a fifty day simple moving average of $186.11 and a 200-day simple moving average of $200.90. Avery Dennison Co. has a 12-month low of $178.72 and a 12-month high of $233.48.

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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 for the quarter, missing the consensus estimate 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 predict that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

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

Insider Activity

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the firm's 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 completion of the transaction, the chairman now owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Citigroup reduced their target price on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Raymond James reiterated an "outperform" rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Bank of America reduced their target price 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. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. Finally, Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $222.51.

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.