Chevy Chase Trust Holdings LLC Sells 414 Shares of Avery Dennison Co. (NYSE:AVY)

Chevy Chase Trust Holdings LLC lowered its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 44,671 shares of the industrial products company’s stock after selling 414 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Avery Dennison were worth $9,973,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley boosted its stake in shares of Avery Dennison by 55.7% in the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after purchasing an additional 639,521 shares in the last quarter. Comerica Bank purchased a new stake in shares of Avery Dennison in the 3rd quarter valued at $16,800,000. Anchor Investment Management LLC purchased a new stake in shares of Avery Dennison in the 4th quarter valued at $42,000. Diversified Trust Co boosted its stake in shares of Avery Dennison by 0.6% in the 4th quarter. Diversified Trust Co now owns 12,985 shares of the industrial products company’s stock valued at $2,625,000 after purchasing an additional 83 shares in the last quarter. Finally, Dfpg Investments LLC boosted its stake in shares of Avery Dennison by 12.5% in the 4th quarter. Dfpg Investments LLC now owns 1,426 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Activity

In other news, SVP Deena Baker-Nel sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total transaction of $684,510.00. Following the sale, the senior vice president now owns 1,577 shares of the company’s stock, valued at approximately $359,824.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Ryan D. Yost sold 584 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total value of $129,245.04. Following the transaction, the insider now owns 2,259 shares in the company, valued at approximately $499,939.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deena Baker-Nel sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total transaction of $684,510.00. Following the completion of the transaction, the senior vice president now owns 1,577 shares in the company, valued at approximately $359,824.09. The disclosure for this sale can be found here. Insiders have sold a total of 12,583 shares of company stock valued at $2,856,353 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Avery Dennison Stock Up 1.2 %

AVY stock traded up $2.49 during trading on Wednesday, hitting $215.49. 142,550 shares of the stock traded hands, compared to its average volume of 438,817. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $231.53. The firm’s 50 day moving average is $224.12 and its two-hundred day moving average is $214.37. The stock has a market cap of $17.36 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 1.98 and a beta of 0.88. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.15 by $0.14. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. On average, sell-side analysts anticipate that Avery Dennison Co. will post 9.32 EPS for the current 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 dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.63%. 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 presently 51.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their price objective 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. Raymond James reaffirmed an “outperform” rating and issued a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Stifel Nicolaus assumed coverage on shares of Avery Dennison in a report on Tuesday. They set a “buy” rating and a $274.60 price target for the company. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $237.15.

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.