Courier Capital LLC Decreases Stake in Avery Dennison Co. (NYSE:AVY)

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Courier Capital LLC lowered its position in Avery Dennison Co. (NYSE:AVY) by 4.5% in the third quarter, Holdings Channel reports. The fund owned 4,265 shares of the industrial products company’s stock after selling 200 shares during the period. Courier Capital LLC’s holdings in Avery Dennison were worth $632,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ellevest Inc. lifted its position in shares of Avery Dennison by 29.1% during the 3rd quarter. Ellevest Inc. now owns 346 shares of the industrial products company’s stock worth $44,000 after buying an additional 78 shares during the last quarter. RMR Wealth Builders purchased a new stake in shares of Avery Dennison during the 2nd quarter worth approximately $51,000. First Horizon Advisors Inc. lifted its position in shares of Avery Dennison by 66.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 463 shares of the industrial products company’s stock worth $52,000 after buying an additional 185 shares during the last quarter. Hoover Financial Advisors Inc. purchased a new stake in shares of Avery Dennison during the 2nd quarter worth approximately $57,000. Finally, Carroll Financial Associates Inc. lifted its position in shares of Avery Dennison by 133.3% during the 3rd quarter. Carroll Financial Associates Inc. now owns 546 shares of the industrial products company’s stock worth $69,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 88.58% of the company’s stock.

In other news, VP Anne Hill sold 11,427 shares of Avery Dennison stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $141.53, for a total value of $1,617,263.31. Following the transaction, the vice president now owns 17,649 shares of the company’s stock, valued at $2,497,862.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter K. Barker sold 10,982 shares of Avery Dennison stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $142.60, for a total transaction of $1,566,033.20. Following the completion of the transaction, the director now directly owns 37,478 shares in the company, valued at approximately $5,344,362.80. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Shares of NYSE AVY opened at $150.75 on Tuesday. Avery Dennison Co. has a 1-year low of $76.96 and a 1-year high of $156.82. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.31 and a quick ratio of 0.94. The business’s fifty day moving average price is $136.85 and its two-hundred day moving average price is $120.41. The firm has a market capitalization of $12.73 billion, a PE ratio of 24.38, a P/E/G ratio of 3.24 and a beta of 0.99.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.41. Avery Dennison had a return on equity of 44.88% and a net margin of 7.80%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $1.66 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts expect that Avery Dennison Co. will post 6.86 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be issued a $0.62 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.65%. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.58. Avery Dennison’s dividend payout ratio is presently 35.15%.

AVY has been the topic of a number of recent research reports. BMO Capital Markets lifted their target price on shares of Avery Dennison from $129.00 to $155.00 and gave the company a “market perform” rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. downgraded shares of Avery Dennison from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $128.00 to $130.00 in a research report on Thursday, October 22nd. UBS Group lifted their price objective on Avery Dennison from $140.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Robert W. Baird boosted their price target on Avery Dennison from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Finally, KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a report on Monday, July 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $141.73.

Avery Dennison Company Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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