Avery Dennison Co. (NYSE:AVY) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,700 shares of the industrial products company’s stock after selling 725 shares during the period. PNC Financial Services Group Inc.’s holdings in Avery Dennison were worth $6,868,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake in 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 purchasing an additional 71 shares during the period. Regents Gate Capital LLP acquired a new position in Avery Dennison during the 4th quarter valued at about $37,000. Peterson Financial Group Inc. acquired a new position in Avery Dennison during the 3rd quarter valued at about $39,000. Spire Wealth Management boosted its stake in Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Avery Dennison during the 3rd quarter valued at about $66,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Bank of America dropped their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Raymond James restated an “outperform” rating and set a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, Barclays dropped their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Stock Down 1.6 %

Shares of NYSE:AVY opened at $177.24 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The company has a market cap of $14.00 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 52 week low of $177.06 and a 52 week high of $233.48. The firm has a 50 day simple moving average of $185.77 and a 200 day simple moving average of $200.08.

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

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.99%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.

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.