Avery Dennison Corporation $AVY Stock Sold by BCV Asset Management Inc.

BCV Asset Management Inc. reduced its stake in Avery Dennison Corporation (NYSE:AVY) by 98.0% during the third quarter, HoldingsChannel.com reports. The firm owned 3,730 shares of the industrial products company’s stock after selling 186,645 shares during the quarter. BCV Asset Management Inc.’s holdings in Avery Dennison were worth $639,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Trust Co. of Vermont bought a new stake in Avery Dennison in the 2nd quarter worth about $27,000. Activest Wealth Management bought a new position in shares of Avery Dennison during the 3rd quarter valued at approximately $27,000. Elevation Wealth Partners LLC increased its stake in shares of Avery Dennison by 684.0% in the second quarter. Elevation Wealth Partners LLC now owns 196 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 171 shares in the last quarter. Louisbourg Investments Inc. bought a new stake in Avery Dennison during the third quarter valued at about $39,000. Finally, Roxbury Financial LLC bought a new stake in Avery Dennison during the 2nd quarter valued at approximately $40,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Trading Up 0.6%

AVY opened at $188.03 on Friday. The firm has a market cap of $14.20 billion, a P/E ratio of 20.35, a P/E/G ratio of 2.20 and a beta of 0.77. Avery Dennison Corporation has a 12 month low of $152.42 and a 12 month high of $199.54. The company has a current ratio of 1.16, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33. The stock has a 50-day moving average of $176.24 and a 200 day moving average of $172.35.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.10. Avery Dennison had a return on equity of 33.88% and a net margin of 7.56%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm posted $2.37 EPS. Avery Dennison’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts forecast that Avery Dennison Corporation will post 10.17 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $4.00 annualized dividend and a yield of 2.1%. Avery Dennison’s dividend payout ratio (DPR) is presently 43.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AVY shares. Truist Financial dropped their target price on shares of Avery Dennison from $209.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $181.00 price target on shares of Avery Dennison in a report on Monday, September 28th. Weiss Ratings upgraded shares of Avery Dennison from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, November 4th. Citigroup increased their price objective on shares of Avery Dennison from $186.00 to $191.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Finally, Wall Street Zen lowered Avery Dennison from a “buy” rating to a “hold” rating in a research report on Sunday, November 8th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus target price of $201.10.

Insider Activity at Avery Dennison

In related news, Director Andres Alberto Lopez sold 4,000 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $193.80, for a total transaction of $775,200.00. Following the completion of the transaction, the director owned 1,147 shares in the company, valued at $222,288.60. The trade was a 77.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nicholas Colisto sold 3,886 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $170.68, for a total value of $663,262.48. Following the transaction, the senior vice president owned 7,126 shares of the company’s stock, valued at approximately $1,216,265.68. The trade was a 35.29% decrease in their position. The SEC filing for this sale provides additional information. 0.81% of the stock is owned by insiders.

About Avery Dennison

Avery Dennison is a global materials science and digital identification solutions company. Its products include pressure-sensitive labels and adhesives, packaging materials, and graphic films used in applications such as product labeling, vehicle graphics, and building signage. The company also develops technologies that help businesses identify and track products, including RFID inlays and tags, which can support inventory management and supply-chain visibility. Its solutions serve customers across industries such as apparel, food and beverage, logistics, healthcare, and retail.