Simplicity Wealth LLC Reduces Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Simplicity Wealth LLC reduced its stake in shares of Avery Dennison Co. (NYSE:AVY) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,072 shares of the industrial products company’s stock after selling 97 shares during the quarter. Simplicity Wealth LLC’s holdings in Avery Dennison were worth $237,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVY. Innealta Capital LLC purchased a new stake in Avery Dennison during the 2nd quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC bought a new stake in Avery Dennison during the second quarter valued at $42,000. 1620 Investment Advisors Inc. bought a new stake in Avery Dennison during the second quarter valued at $51,000. Palisade Asset Management LLC bought a new stake in Avery Dennison during the first quarter valued at $64,000. Finally, Versant Capital Management Inc increased its stake in Avery Dennison by 936.7% during the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 281 shares during the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $65,004,367.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $65,004,367.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,108 shares of company stock worth $12,545,087 over the last 90 days. Insiders own 1.10% of the company’s stock.

Avery Dennison Trading Up 1.1 %

NYSE:AVY opened at $220.52 on Tuesday. The stock’s 50 day moving average price is $215.87 and its 200 day moving average price is $218.88. Avery Dennison Co. has a 52 week low of $165.21 and a 52 week high of $233.48. The company has a market capitalization of $17.76 billion, a P/E ratio of 32.19, a P/E/G ratio of 1.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, research analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.60%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVY. Stifel Nicolaus assumed coverage on shares of Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price for the company. Citigroup reduced their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. BMO Capital Markets reaffirmed an “outperform” rating and set a $252.00 price objective (down from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Finally, Barclays started coverage on shares of Avery Dennison in a research note on Monday, October 7th. They set an “overweight” rating and a $250.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $242.96.

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.