Marks Group Wealth Management Inc Sells 416 Shares of Avery Dennison Co. (NYSE:AVY)

Marks Group Wealth Management Inc trimmed its position in Avery Dennison Co. (NYSE:AVY) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,645 shares of the industrial products company’s stock after selling 416 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Avery Dennison were worth $6,857,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after purchasing an additional 157,754 shares in the last quarter. Victory Capital Management Inc. increased its stake in Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after buying an additional 90,250 shares in the last quarter. Meridiem Investment Management Ltd. raised its holdings in Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after acquiring an additional 5,756 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Avery Dennison by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after acquiring an additional 3,118 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Avery Dennison by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock worth $151,975,000 after acquiring an additional 1,782 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of NYSE:AVY opened at $179.91 on Wednesday. The firm has a fifty day simple moving average of $190.37 and a two-hundred day simple moving average of $204.33. 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 capitalization of $14.46 billion, a P/E ratio of 20.63, a PEG ratio of 2.04 and a beta of 0.89. Avery Dennison Co. has a 52 week low of $178.72 and a 52 week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.96%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Analyst Ratings Changes

Several brokerages recently issued reports on AVY. Barclays decreased their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, UBS Group decreased their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average target price of $227.15.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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.