Quest Partners LLC Sells 296 Shares of Avery Dennison Co. (NYSE:AVY)

Quest Partners LLC trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,753 shares of the industrial products company’s stock after selling 296 shares during the period. Quest Partners LLC’s holdings in Avery Dennison were worth $2,153,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AVY. Innealta Capital LLC purchased a new position in shares of Avery Dennison in the second quarter valued at about $28,000. Kennebec Savings Bank bought a new position in Avery Dennison in the 3rd quarter worth approximately $36,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison during the 3rd quarter valued at approximately $39,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Avery Dennison in the second quarter worth $42,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Avery Dennison in the second quarter worth $51,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Up 0.3 %

Shares of NYSE AVY opened at $198.31 on Tuesday. Avery Dennison Co. has a fifty-two week low of $186.66 and a fifty-two week high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The company has a market cap of $15.93 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 1.52 and a beta of 0.89. The business’s 50 day moving average price is $212.79 and its 200-day moving average price is $217.52.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 earnings per share. On average, sell-side analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AVY shares. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Truist Financial increased their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and an average target price of $244.96.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. This trade represents a 2.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

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.