Janus Henderson Group PLC Sells 216 Shares of Avery Dennison Co. (NYSE:AVY)

Janus Henderson Group PLC trimmed its stake in shares of Avery Dennison Co. (NYSE:AVY) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,917 shares of the industrial products company’s stock after selling 216 shares during the period. Janus Henderson Group PLC’s holdings in Avery Dennison were worth $1,668,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Avery Dennison during the 4th quarter worth $188,643,000. Raymond James Financial Inc. bought a new stake in shares of Avery Dennison during the fourth quarter worth $51,521,000. Ameriprise Financial Inc. lifted its stake in shares of Avery Dennison by 12.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company’s stock valued at $409,014,000 after acquiring an additional 250,359 shares during the period. Capital World Investors acquired a new position in shares of Avery Dennison during the fourth quarter valued at $40,354,000. Finally, Deutsche Bank AG boosted its holdings in Avery Dennison by 81.3% in the fourth quarter. Deutsche Bank AG now owns 465,479 shares of the industrial products company’s stock valued at $87,105,000 after acquiring an additional 208,678 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Price Performance

AVY opened at $180.15 on Thursday. The company has a fifty day simple moving average of $173.99 and a 200 day simple moving average of $185.31. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The stock has a market cap of $14.08 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a 12 month low of $157.00 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the business earned $2.29 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.94 per share. This is an increase from Avery Dennison’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.76 annualized dividend and a dividend yield of 2.09%. Avery Dennison’s dividend payout ratio is currently 43.32%.

Analyst Ratings Changes

AVY has been the subject of several recent research reports. Argus cut Avery Dennison from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. UBS Group dropped their price target on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Raymond James reduced their price objective on shares of Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. BMO Capital Markets lowered their target price on shares of Avery Dennison from $226.00 to $216.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Robert W. Baird cut their price target on Avery Dennison from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.60.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the transaction, the chairman now owns 316,300 shares in the company, valued at approximately $58,891,897. This represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.84% of the stock is currently owned by company insiders.

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.