Brown Brothers Harriman & Co. Has $167,000 Stock Position in Avery Dennison Co. (NYSE:AVY)

Brown Brothers Harriman & Co. cut its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 15.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 891 shares of the industrial products company’s stock after selling 158 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Avery Dennison were worth $167,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AVY. Norges Bank purchased a new position in Avery Dennison during the fourth quarter valued at approximately $188,643,000. Raymond James Financial Inc. purchased a new position in shares of Avery Dennison during the 4th quarter valued at $51,521,000. Geode Capital Management LLC increased its stake in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after acquiring an additional 157,754 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Avery Dennison by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock worth $143,078,000 after acquiring an additional 134,560 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Avery Dennison by 411.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company’s stock valued at $23,084,000 after purchasing an additional 99,232 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVY. Barclays reduced their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Citigroup decreased 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. UBS Group cut 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 shares of Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three research 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 currently has an average rating of “Moderate Buy” and a consensus target price of $222.51.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is owned by company insiders.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $178.05 on Tuesday. 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 business has a 50 day moving average price of $183.02 and a 200 day moving average price of $196.14. The company has a market cap of $14.06 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a twelve month low of $173.02 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data 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%. Research analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s payout ratio is presently 40.37%.

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.