Avery Dennison Co. (NYSE:AVY) Stock Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in Avery Dennison Co. (NYSE:AVY) by 32.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 418,099 shares of the industrial products company’s stock after selling 199,512 shares during the period. Principal Financial Group Inc. owned 0.52% of Avery Dennison worth $78,243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after acquiring an additional 157,754 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after purchasing an additional 90,250 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Avery Dennison by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after purchasing an additional 3,118 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Avery Dennison by 0.3% during 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 purchasing an additional 1,782 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in shares of Avery Dennison by 1.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 497,849 shares of the industrial products company’s stock worth $109,905,000 after buying an additional 9,505 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AVY has been the topic of a number of recent research reports. Barclays cut their target price on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Bank of America lowered their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, UBS Group lowered their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average target price of $227.15.

Avery Dennison Stock Down 0.5 %

Avery Dennison stock opened at $182.76 on Thursday. Avery Dennison Co. has a 52 week low of $178.72 and a 52 week high of $233.48. The stock has a market cap of $14.68 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.03 and a beta of 0.89. The company’s 50-day moving average price is $187.49 and its two-hundred day moving average price is $202.83. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, analysts expect that Avery Dennison Co. will post 9.97 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.93%. Avery Dennison’s dividend payout ratio is currently 40.37%.

Insider Buying and Selling

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 approximately $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

About Avery Dennison

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.