Schechter Investment Advisors LLC Lowers Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Schechter Investment Advisors LLC reduced its stake in Avery Dennison Co. (NYSE:AVY) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,963 shares of the industrial products company’s stock after selling 299 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Avery Dennison were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of AVY. Moneta Group Investment Advisors LLC raised its stake in Avery Dennison by 102,432.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,947,083 shares of the industrial products company’s stock valued at $352,422,000 after purchasing an additional 1,945,184 shares in the last quarter. Norges Bank purchased a new stake in Avery Dennison in the fourth quarter valued at approximately $153,787,000. BlackRock Inc. grew its position in Avery Dennison by 12.0% during the second quarter. BlackRock Inc. now owns 7,342,715 shares of the industrial products company’s stock valued at $1,261,478,000 after acquiring an additional 787,201 shares during the last quarter. Lazard Asset Management LLC grew its position in Avery Dennison by 38.5% during the second quarter. Lazard Asset Management LLC now owns 2,316,506 shares of the industrial products company’s stock valued at $397,974,000 after acquiring an additional 643,675 shares during the last quarter. Finally, Morgan Stanley grew its position in Avery Dennison by 55.7% during the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after acquiring an additional 639,521 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Avery Dennison

In other news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the transaction, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. Insiders sold a total of 19,879 shares of company stock valued at $4,217,705 in the last quarter. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of recent research reports. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Citigroup cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and raised their target price for the stock from $197.00 to $214.00 in a report on Wednesday, January 3rd. UBS Group raised their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, Bank of America cut shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price on the stock. in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.78.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $224.24 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $18.06 billion, a P/E ratio of 36.11, a P/E/G ratio of 3.35 and a beta of 0.90. The business has a fifty day simple moving average of $209.52 and a two-hundred day simple moving average of $195.32. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $224.24.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting the consensus estimate of $2.16. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 earnings per share. On average, equities analysts forecast that Avery Dennison Co. will post 9.28 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Tuesday, March 5th. Avery Dennison’s dividend payout ratio is presently 52.17%.

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.