D.A. Davidson & CO. reduced its stake in shares of Avery Dennison Corp (NYSE:AVY) by 52.8% in the 4th quarter, Holdings Channel reports. The firm owned 42,786 shares of the industrial products company’s stock after selling 47,776 shares during the quarter. D.A. Davidson & CO.’s holdings in Avery Dennison were worth $4,914,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in AVY. West Oak Capital LLC raised its position in Avery Dennison by 114.3% during the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock worth $172,000 after purchasing an additional 800 shares during the last quarter. Conning Inc. bought a new position in Avery Dennison during the 3rd quarter worth $200,000. Davidson & Garrard Inc. bought a new position in Avery Dennison during the 3rd quarter worth $202,000. Univest Corp of Pennsylvania bought a new position in shares of Avery Dennison in the 4th quarter worth about $205,000. Finally, Bank of Stockton bought a new position in shares of Avery Dennison in the 4th quarter worth about $206,000. 85.62% of the stock is owned by institutional investors and hedge funds.
Shares of Avery Dennison Corp (NYSE AVY) opened at $119.53 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.83. The company has a market capitalization of $10,398.86, a PE ratio of 38.19, a PEG ratio of 2.87 and a beta of 1.20. Avery Dennison Corp has a 12 month low of $78.47 and a 12 month high of $123.67.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.51%. Avery Dennison’s dividend payout ratio is presently 57.51%.
Several research analysts have recently weighed in on AVY shares. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Loop Capital lifted their price objective on Avery Dennison from $99.00 to $106.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Robert W. Baird reissued a “buy” rating and issued a $115.00 price objective on shares of Avery Dennison in a research report on Friday, October 27th. Zacks Investment Research raised Avery Dennison from a “sell” rating to a “buy” rating and set a $117.00 price objective for the company in a research report on Friday, October 27th. Finally, KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research report on Monday, October 30th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $122.75.
In other news, Director Peter K. Barker sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total value of $229,520.00. Following the completion of the sale, the director now directly owns 26,703 shares in the company, valued at approximately $3,064,436.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Lori J. Bondar sold 10,855 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $110.88, for a total value of $1,203,602.40. Following the completion of the sale, the chief accounting officer now owns 18,556 shares of the company’s stock, valued at $2,057,489.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,625 shares of company stock valued at $1,758,597. 1.40% of the stock is currently owned by company insiders.
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Avery Dennison Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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