Kentucky Retirement Systems Insurance Trust Fund Sells 211 Shares of Avery Dennison Co. (NYSE:AVY)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in Avery Dennison Co. (NYSE:AVY) by 7.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,658 shares of the industrial products company’s stock after selling 211 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Avery Dennison were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of AVY. VisionPoint Advisory Group LLC purchased a new position in shares of Avery Dennison during the 4th quarter valued at $42,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 166 shares in the last quarter. Palisade Asset Management LLC purchased a new position in shares of Avery Dennison during the 1st quarter valued at $64,000. Crewe Advisors LLC purchased a new position in shares of Avery Dennison during the 1st quarter valued at $89,000. Finally, Parkside Financial Bank & Trust grew its position in shares of Avery Dennison by 250.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 403 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 288 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVY. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their target price for the stock from $262.00 to $235.00 in a research report on Thursday. Truist Financial upped their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird upped their target price on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets cut their target price on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and an average target price of $239.96.

Insider Buying and Selling

In related news, SVP Ignacio J. Walker sold 2,206 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $226.70, for a total value of $500,100.20. Following the completion of the transaction, the senior vice president now directly owns 7,082 shares of the company’s stock, valued at $1,605,489.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Avery Dennison news, insider Ryan D. Yost sold 149 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $226.38, for a total value of $33,730.62. Following the sale, the insider now owns 2,110 shares in the company, valued at $477,661.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ignacio J. Walker sold 2,206 shares of the company’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 completion of the sale, the senior vice president now owns 7,082 shares in the company, valued at approximately $1,605,489.40. The disclosure for this sale can be found here. Insiders sold a total of 12,583 shares of company stock valued at $2,856,353 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Trading Up 2.2 %

Shares of NYSE:AVY traded up $4.64 during midday trading on Friday, hitting $213.74. 522,970 shares of the stock traded hands, compared to its average volume of 508,594. The stock has a market capitalization of $17.22 billion, a PE ratio of 31.20, a P/E/G ratio of 1.77 and a beta of 0.88. The business’s 50 day moving average is $222.84 and its two-hundred day moving average is $216.04. 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 Co. has a one year low of $165.21 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.26 by $0.16. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.92 earnings per share. As a group, research analysts forecast that Avery Dennison Co. will post 9.39 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Wednesday, September 4th. Avery Dennison’s payout ratio is currently 51.39%.

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.