Wells Fargo & Company MN Lowers Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Wells Fargo & Company MN trimmed its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,745 shares of the industrial products company's stock after selling 24,183 shares during the quarter. Wells Fargo & Company MN owned approximately 0.23% of Avery Dennison worth $35,320,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Greenleaf Trust raised its holdings in Avery Dennison by 4.4% during the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company's stock valued at $253,000 after acquiring an additional 57 shares during the period. AdvisorNet Financial Inc increased its stake in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after acquiring an additional 58 shares during the last quarter. HBK Sorce Advisory LLC boosted its stake in Avery Dennison by 0.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock worth $2,220,000 after buying an additional 58 shares during the period. RMR Wealth Builders boosted its stake in shares of Avery Dennison by 5.7% during the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company's stock worth $205,000 after purchasing an additional 59 shares during the period. Finally, New York Life Investment Management LLC lifted its stake in shares of Avery Dennison by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company's stock worth $2,055,000 after acquiring an additional 61 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the sale, the chairman now directly owns 316,300 shares of the company's stock, valued at approximately $58,891,897. The trade was a 2.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is currently owned by corporate insiders.

Avery Dennison Trading Up 0.5 %

NYSE:AVY traded up $0.82 on Wednesday, hitting $170.32. The stock had a trading volume of 102,548 shares, compared to its average volume of 784,283. The company has a fifty day moving average price of $178.15 and a two-hundred day moving average price of $192.11. Avery Dennison Co. has a 1-year low of $157.00 and a 1-year 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 stock has a market cap of $13.45 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data 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 net margin of 8.05% and a return on equity of 33.06%. Equities research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 2.07%. Avery Dennison's dividend payout ratio (DPR) is currently 40.37%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note on Monday, February 3rd. Citigroup reduced their price objective on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. UBS Group cut their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Finally, Raymond James reaffirmed an "outperform" rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $220.87.

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.