Palmer Knight Co Sells 225 Shares of Avery Dennison Co. (NYSE:AVY)

Palmer Knight Co decreased its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,692 shares of the industrial products company’s stock after selling 225 shares during the period. Avery Dennison accounts for 3.0% of Palmer Knight Co’s holdings, making the stock its 20th biggest position. Palmer Knight Co’s holdings in Avery Dennison were worth $6,776,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. JB Capital LLC grew its stake in shares of Avery Dennison by 11.3% during the third quarter. JB Capital LLC now owns 15,191 shares of the industrial products company’s stock worth $3,353,000 after acquiring an additional 1,546 shares during the last quarter. Olympiad Research LP acquired a new stake in Avery Dennison in the 3rd quarter worth approximately $266,000. Principal Financial Group Inc. grew its position in Avery Dennison by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company’s stock worth $136,338,000 after purchasing an additional 4,670 shares during the last quarter. Advisor Resource Council acquired a new position in Avery Dennison during the 3rd quarter valued at approximately $317,000. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of Avery Dennison by 12.0% in the third quarter. Concurrent Investment Advisors LLC now owns 5,506 shares of the industrial products company’s stock worth $1,216,000 after buying an additional 591 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVY has been the topic of several research reports. Truist Financial upped their target price on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Barclays cut their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets cut their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $212.90, for a total value of $2,129,000.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at $64,745,870.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction on Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $64,745,870.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $206.82, for a total value of $620,460.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $62,896,857.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,108 shares of company stock worth $8,561,057. Insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

NYSE:AVY opened at $205.45 on Friday. The company has a market cap of $16.51 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.58 and a beta of 0.89. Avery Dennison Co. has a twelve month low of $176.75 and a twelve month high of $233.48. The company’s 50-day moving average price is $214.90 and its 200-day moving average price is $218.05. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.10 earnings per share. On average, sell-side analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is currently 42.26%.

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.