Anchor Capital Advisors LLC Sells 6,404 Shares of Avery Dennison Co. (NYSE:AVY)

Anchor Capital Advisors LLC lessened its position in Avery Dennison Co. (NYSE:AVY) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,012 shares of the industrial products company’s stock after selling 6,404 shares during the period. Anchor Capital Advisors LLC owned about 0.23% of Avery Dennison worth $34,621,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AVY. Larson Financial Group LLC lifted its stake in 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 purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Avery Dennison in the third quarter valued at approximately $36,000. Peterson Financial Group Inc. bought a new position in shares of Avery Dennison during the 3rd quarter worth approximately $39,000. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison during the 4th quarter worth approximately $37,000. Finally, Brooklyn Investment Group bought a new stake in Avery Dennison in the 3rd quarter valued at $66,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on AVY. 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. Raymond James reaffirmed an “outperform” rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. UBS Group lowered their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Finally, Robert W. Baird set a $220.00 price target on Avery Dennison in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Trading Down 0.2 %

Shares of NYSE:AVY opened at $185.33 on Friday. The company has a market capitalization of $14.89 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.07 and a beta of 0.89. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The business’s 50 day simple moving average is $186.69 and its 200 day simple moving average is $202.01. Avery Dennison Co. has a 1 year low of $178.72 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY) last released 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 return on equity of 33.06% and a net margin of 8.05%. On average, research analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Avery Dennison 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.