Avery Dennison Co. (NYSE:AVY) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its position in shares of Avery Dennison Co. (NYSE:AVY) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,074 shares of the industrial products company’s stock after selling 58 shares during the period. First Horizon Advisors Inc.’s holdings in Avery Dennison were worth $217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVY. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Avery Dennison in the 3rd quarter worth $32,000. Milestone Investment Advisors LLC acquired a new position in shares of Avery Dennison in the third quarter worth about $36,000. Anchor Investment Management LLC acquired a new stake in Avery Dennison during the 4th quarter valued at approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 166 shares during the last quarter. Finally, Adirondack Trust Co. acquired a new position in shares of Avery Dennison in the 3rd quarter valued at approximately $55,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the transaction, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the transaction, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ignacio J. Walker sold 5,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the transaction, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on AVY. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Truist Financial upped their target price on shares of Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Friday, April 26th. UBS Group lifted their price target on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Citigroup upped their price objective on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted their target price on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Avery Dennison Trading Up 0.9 %

Shares of NYSE AVY opened at $221.55 on Monday. Avery Dennison Co. has a 12-month low of $158.93 and a 12-month high of $225.26. The company has a market cap of $17.85 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 3.41 and a beta of 0.91. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. The stock’s 50 day simple moving average is $216.39 and its 200 day simple moving average is $201.86.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.59%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Tuesday, June 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 47.30%.

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.