McElhenny Sheffield Capital Management LLC Has $395,000 Stock Holdings in Avery Dennison Co. (NYSE:AVY)

McElhenny Sheffield Capital Management LLC reduced its position in shares of Avery Dennison Co. (NYSE:AVY) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,112 shares of the industrial products company’s stock after selling 216 shares during the quarter. McElhenny Sheffield Capital Management LLC’s holdings in Avery Dennison were worth $395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVY. Geode Capital Management LLC lifted its position in 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 acquiring an additional 157,754 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after buying an additional 90,250 shares during the last quarter. Meridiem Investment Management Ltd. grew its holdings in Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after buying an additional 5,756 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Avery Dennison by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock valued at $172,254,000 after buying an additional 32,467 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Avery Dennison by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after acquiring an additional 3,118 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Stock Down 0.1 %

AVY stock opened at $191.07 on Friday. Avery Dennison Co. has a 1-year low of $181.99 and a 1-year high of $233.48. The stock has a market cap of $15.35 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The company’s 50 day moving average is $195.08 and its 200 day moving average is $207.86.

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

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is 42.26%.

Analysts Set New Price Targets

AVY has been the subject of several analyst reports. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Truist Financial dropped their price target on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group reduced their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Citigroup lowered their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, BMO Capital Markets reduced their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.05.

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.