Courier Capital LLC Sells 700 Shares of Avery Dennison Co. (NYSE:AVY)

Courier Capital LLC lowered its stake in shares of Avery Dennison Co. (NYSE:AVY) by 30.2% during the fourth quarter, Holdings Channel reports. The fund owned 1,617 shares of the industrial products company’s stock after selling 700 shares during the period. Courier Capital LLC’s holdings in Avery Dennison were worth $303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its position in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new stake in Avery Dennison in the third quarter worth about $36,000. Peterson Financial Group Inc. bought a new stake in Avery Dennison during the 3rd quarter worth about $39,000. Ashton Thomas Private Wealth LLC acquired a new position in Avery Dennison during the 2nd quarter valued at about $42,000. Finally, Raleigh Capital Management Inc. boosted its stake in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 238 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY opened at $189.17 on Wednesday. The firm has a market cap of $15.20 billion, a P/E ratio of 22.71, a PEG ratio of 1.52 and a beta of 0.89. Avery Dennison Co. has a twelve month low of $181.99 and a twelve month 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 firm’s 50 day moving average price is $195.92 and its two-hundred day moving average price is $208.30.

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

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Wednesday, December 4th. Avery Dennison’s dividend payout ratio is presently 42.26%.

Analysts Set New Price Targets

AVY has been the topic of several analyst reports. Barclays cut their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. UBS Group decreased their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Citigroup cut their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, BMO Capital Markets decreased their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $235.05.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

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.