Compass Ion Advisors LLC Reduces Position in Avery Dennison Co. (NYSE:AVY)

Compass Ion Advisors LLC cut its position in Avery Dennison Co. (NYSE:AVY) by 56.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,623 shares of the industrial products company’s stock after selling 2,100 shares during the period. Compass Ion Advisors LLC’s holdings in Avery Dennison were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AVY. Cerity Partners LLC boosted its holdings in shares of Avery Dennison by 4,159.9% in the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock valued at $240,819,000 after buying an additional 1,163,264 shares in the last quarter. Norges Bank acquired a new stake in Avery Dennison during the 4th quarter worth $185,292,000. Morgan Stanley boosted its stake in Avery Dennison by 55.7% during the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after purchasing an additional 639,521 shares during the period. Ameriprise Financial Inc. boosted its stake in Avery Dennison by 22.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after purchasing an additional 493,857 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in Avery Dennison by 1,429.4% during the 4th quarter. Corient Private Wealth LLC now owns 262,697 shares of the industrial products company’s stock worth $53,107,000 after purchasing an additional 245,520 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY opened at $213.38 on Tuesday. The company has a 50-day simple moving average of $224.17 and a 200-day simple moving average of $213.73. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $17.19 billion, a PE ratio of 31.15, a P/E/G ratio of 2.01 and a beta of 0.88. Avery Dennison Co. has a 52-week low of $165.21 and a 52-week high of $231.53.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.14. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. Equities research analysts predict that Avery Dennison Co. will post 9.32 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Wednesday, June 5th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio (DPR) is currently 51.39%.

Analysts Set New Price Targets

AVY has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Citigroup increased their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Argus increased their price target on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Raymond James reiterated an “outperform” rating and set a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Finally, StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $230.50.

Insider Activity

In other news, CFO Gregory Lovins sold 2,894 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $227.20, for a total value of $657,516.80. Following the completion of the transaction, the chief financial officer now owns 67,457 shares in the company, valued at approximately $15,326,230.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Avery Dennison news, insider Ryan D. Yost sold 584 shares of Avery Dennison stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the completion of the transaction, the insider now owns 2,259 shares in the company, valued at $499,939.29. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gregory Lovins sold 2,894 shares of Avery Dennison stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $227.20, for a total transaction of $657,516.80. Following the transaction, the chief financial officer now owns 67,457 shares of the company’s stock, valued at approximately $15,326,230.40. The disclosure for this sale can be found here. Insiders sold 12,583 shares of company stock worth $2,856,353 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Company 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.