Avery Dennison Co. (NYSE:AVY) Shares Sold by Sepio Capital LP

Sepio Capital LP cut its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,854 shares of the industrial products company’s stock after selling 411 shares during the period. Sepio Capital LP’s holdings in Avery Dennison were worth $908,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Regents Gate Capital LLP acquired a new position in Avery Dennison during the 4th quarter worth $37,000. Spire Wealth Management lifted its holdings in Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 130 shares during the period. VisionPoint Advisory Group LLC bought a new position in Avery Dennison in the 4th quarter valued at about $68,000. AdvisorNet Financial Inc increased its stake in Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after buying an additional 58 shares during the period. Finally, Assetmark Inc. raised its position in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after buying an additional 73 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares in the company, valued at $58,891,897. This represents a 2.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented 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 lowered their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Bank of America cut their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial reaffirmed a “buy” rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, Raymond James reissued an “outperform” rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a 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 company’s stock. According to data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Stock Performance

Shares of AVY opened at $170.30 on Monday. The company has a 50-day moving average of $181.82 and a two-hundred day moving average of $194.99. 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. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a one year low of $168.77 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, equities research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.07%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s payout ratio is 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.