Pinnacle Financial Partners Inc Sells 208 Shares of Avery Dennison Co. (NYSE:AVY)

Pinnacle Financial Partners Inc decreased its holdings in shares of Avery Dennison Co. (NYSE:AVYFree Report) by 11.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,654 shares of the industrial products company’s stock after selling 208 shares during the period. Pinnacle Financial Partners Inc’s holdings in Avery Dennison were worth $334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AVY. Moneta Group Investment Advisors LLC raised its position in shares of Avery Dennison by 102,432.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,947,083 shares of the industrial products company’s stock valued at $352,422,000 after acquiring an additional 1,945,184 shares during the last quarter. Norges Bank bought a new stake in shares of Avery Dennison during the 4th quarter valued at $153,787,000. Lazard Asset Management LLC increased its position in shares of Avery Dennison by 38.5% in the 2nd quarter. Lazard Asset Management LLC now owns 2,316,506 shares of the industrial products company’s stock valued at $397,974,000 after buying an additional 643,675 shares in the last quarter. Morgan Stanley increased its position in shares of Avery Dennison by 55.7% in the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after buying an additional 639,521 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Avery Dennison by 22.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock valued at $487,857,000 after buying an additional 493,857 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In other news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the transaction, the director now owns 5,018 shares in the company, valued at $1,014,940.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction 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 transaction, the insider now owns 2,843 shares of the company’s stock, valued at $606,383.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the transaction, the director now directly owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,879 shares of company stock worth $4,217,705. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVY. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Truist Financial restated a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a research report on Friday, January 19th. Citigroup cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and upped their price objective for the company from $197.00 to $214.00 in a research report on Wednesday, January 3rd. Bank of America downgraded shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective for the company. in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.78.

Read Our Latest Stock Analysis on Avery Dennison

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $221.23 on Thursday. Avery Dennison Co. has a fifty-two week low of $158.93 and a fifty-two week high of $225.26. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. The firm has a market capitalization of $17.81 billion, a P/E ratio of 35.62, a P/E/G ratio of 3.44 and a beta of 0.90. The company’s 50 day moving average price is $211.75 and its two-hundred day moving average price is $196.74.

Avery Dennison (NYSE:AVYGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting analysts’ consensus estimates of $2.16. The company 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%. Avery Dennison’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. On average, equities analysts forecast that Avery Dennison Co. will post 9.28 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.46%. Avery Dennison’s dividend payout ratio (DPR) is presently 52.17%.

Avery Dennison Profile

(Free Report)

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.

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

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