Strengthening Families & Communities LLC Sells 12,656 Shares of Avery Dennison Co. (NYSE:AVY)

Strengthening Families & Communities LLC lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 96.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 405 shares of the industrial products company’s stock after selling 12,656 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Avery Dennison were worth $76,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AVY. Larson Financial Group LLC boosted its position in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Avery Dennison during the 3rd quarter valued at about $36,000. Regents Gate Capital LLP bought a new stake in shares of Avery Dennison during the 4th quarter valued at about $37,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison during the 3rd quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. boosted its position in shares of Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. UBS Group dropped their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. BMO Capital Markets dropped 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. Truist Financial restated a “buy” rating and issued a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, Raymond James restated an “outperform” rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.15.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value 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. This represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY stock opened at $181.77 on Tuesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a fifty-two week low of $178.72 and a fifty-two week high of $233.48. The company has a market capitalization of $14.60 billion, a P/E ratio of 20.84, a PEG ratio of 2.04 and a beta of 0.89. The stock has a 50 day moving average price of $190.86 and a two-hundred day moving average price of $204.52.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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%. Analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.94%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.