Proficio Capital Partners LLC Buys Shares of 68,029 Avery Dennison Co. (NYSE:AVY)

Proficio Capital Partners LLC bought a new stake in shares of Avery Dennison Co. (NYSE:AVY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 68,029 shares of the industrial products company’s stock, valued at approximately $12,730,000. Proficio Capital Partners LLC owned 0.08% of Avery Dennison as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AVY. Geode Capital Management LLC lifted its stake 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 purchasing an additional 157,754 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock worth $143,078,000 after acquiring an additional 134,560 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Avery Dennison by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after acquiring an additional 3,118 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Avery Dennison by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company’s stock worth $130,821,000 after acquiring an additional 10,674 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Avery Dennison by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company’s stock worth $136,338,000 after acquiring an additional 4,670 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup dropped their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Bank of America dropped their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. Finally, Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $178.91 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The firm’s 50-day simple moving average is $185.49 and its 200-day simple moving average is $199.52. Avery Dennison Co. has a twelve month low of $174.91 and a twelve month high of $233.48. The firm has a market cap of $14.13 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last issued its earnings results 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 net margin of 8.05% and a return on equity of 33.06%. As a group, research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.97%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.