Avery Dennison Co. (NYSE:AVY) Stock Holdings Cut by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its position in Avery Dennison Co. (NYSE:AVY) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,116 shares of the industrial products company’s stock after selling 327 shares during the period. Kentucky Retirement Systems’ holdings in Avery Dennison were worth $1,365,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Cerity Partners LLC lifted its holdings in Avery Dennison by 4,159.9% in the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock valued at $240,819,000 after acquiring an additional 1,163,264 shares during the last quarter. Norges Bank bought a new stake in Avery Dennison during the fourth quarter worth approximately $185,292,000. Corient Private Wealth LLC grew its position in Avery Dennison by 1,429.4% in the fourth quarter. Corient Private Wealth LLC now owns 262,697 shares of the industrial products company’s stock worth $53,107,000 after buying an additional 245,520 shares during the last quarter. Jennison Associates LLC acquired a new position in Avery Dennison in the first quarter worth approximately $44,837,000. Finally, Schroder Investment Management Group increased its holdings in shares of Avery Dennison by 2,707.5% in the fourth quarter. Schroder Investment Management Group now owns 197,562 shares of the industrial products company’s stock valued at $39,939,000 after buying an additional 190,525 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling

In other Avery Dennison news, SVP Ignacio J. Walker sold 2,206 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $226.70, for a total value of $500,100.20. Following the completion of the sale, the senior vice president now owns 7,082 shares in the company, valued at approximately $1,605,489.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Deena Baker-Nel sold 3,000 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total value of $684,510.00. Following the completion of the transaction, the senior vice president now owns 1,577 shares of the company’s stock, valued at $359,824.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ignacio J. Walker sold 2,206 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $226.70, for a total transaction of $500,100.20. Following the transaction, the senior vice president now owns 7,082 shares of the company’s stock, valued at approximately $1,605,489.40. The disclosure for this sale can be found here. Insiders have sold a total of 12,583 shares of company stock valued at $2,856,353 over the last three months. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Stock Up 2.2 %

AVY stock traded up $4.64 during trading hours on Friday, hitting $213.74. The company’s stock had a trading volume of 522,970 shares, compared to its average volume of 508,594. The stock has a 50 day moving average price of $222.84 and a two-hundred day moving average price of $216.04. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $233.48. The company has a market capitalization of $17.22 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 1.77 and a beta of 0.88. The company has a quick ratio of 0.58, a current ratio of 0.90 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.16. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.92 EPS. On average, equities research analysts expect that Avery Dennison Co. will post 9.39 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, September 4th. Avery Dennison’s payout ratio is presently 51.39%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AVY shares. Citigroup lifted their target price on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Argus upped their price objective on shares of Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target for the company. Finally, UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $262.00 to $235.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target of $239.96.

About Avery Dennison

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.