Courier Capital LLC Has $468,000 Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Courier Capital LLC cut its position in shares of Avery Dennison Co. (NYSE:AVY) by 23.2% during the 4th quarter, Holdings Channel reports. The firm owned 2,317 shares of the industrial products company’s stock after selling 700 shares during the quarter. Courier Capital LLC’s holdings in Avery Dennison were worth $468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of AVY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Avery Dennison by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,078 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 686 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Avery Dennison by 28.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 46,710 shares of the industrial products company’s stock valued at $8,530,000 after buying an additional 10,370 shares during the last quarter. Yousif Capital Management LLC raised its holdings in Avery Dennison by 0.5% in the 1st quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock valued at $2,215,000 after acquiring an additional 65 shares during the period. Raymond James Trust N.A. raised its holdings in Avery Dennison by 61.4% in the 1st quarter. Raymond James Trust N.A. now owns 4,968 shares of the industrial products company’s stock valued at $864,000 after acquiring an additional 1,889 shares during the period. Finally, Blair William & Co. IL raised its holdings in Avery Dennison by 2.2% in the 1st quarter. Blair William & Co. IL now owns 8,215 shares of the industrial products company’s stock valued at $1,429,000 after acquiring an additional 173 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVY. Truist Financial reissued a “buy” rating and issued a $249.00 price target on shares of Avery Dennison in a report on Friday, January 19th. UBS Group increased their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, Bank of America cut shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target on the stock. in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.78.

Avery Dennison Stock Up 2.2 %

Shares of AVY opened at $224.24 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $18.06 billion, a PE ratio of 36.11, a P/E/G ratio of 3.35 and a beta of 0.90. The firm’s 50 day moving average is $209.52 and its 200-day moving average is $195.32. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $224.24.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.65 EPS. Equities research analysts forecast that Avery Dennison Co. will post 9.28 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.81 per share. The ex-dividend date was Tuesday, March 5th. This represents a $3.24 annualized dividend and a dividend yield of 1.44%. Avery Dennison’s dividend payout ratio is 52.17%.

Insider Buying and Selling

In related news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the sale, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Avery Dennison news, SVP Ignacio J. Walker sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the sale, the senior vice president now owns 6,102 shares in the company, valued at $1,305,217.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,879 shares of company stock worth $4,217,705. Corporate 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.