Calamos Advisors LLC Cuts Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Calamos Advisors LLC trimmed its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,182 shares of the industrial products company’s stock after selling 681 shares during the period. Calamos Advisors LLC’s holdings in Avery Dennison were worth $10,549,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Clear Street Markets LLC boosted its position in Avery Dennison by 92.7% during the first quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock valued at $28,000 after buying an additional 76 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Avery Dennison during the third quarter worth about $32,000. Eagle Bay Advisors LLC purchased a new stake in shares of Avery Dennison during the second quarter worth about $33,000. IFP Advisors Inc boosted its holdings in shares of Avery Dennison by 56.3% during the second quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 72 shares during the period. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Avery Dennison during the first quarter worth about $35,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ignacio J. Walker sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the transaction, the senior vice president now owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,879 shares of company stock worth $4,217,705. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AVY shares. Citigroup increased their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Raymond James increased their target price on shares of Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Truist Financial reiterated a “buy” rating and set a $249.00 target price on shares of Avery Dennison in a report on Friday, January 19th. JPMorgan Chase & Co. increased their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Bank of America downgraded shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target for the company. in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.00.

Avery Dennison Price Performance

AVY stock opened at $211.57 on Friday. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $225.26. The firm has a 50-day moving average of $214.97 and a 200 day moving average of $199.27. The company has a market cap of $17.04 billion, a P/E ratio of 34.07, a PEG ratio of 3.22 and a beta of 0.90. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period last year, the business earned $1.65 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts forecast that Avery Dennison Co. will post 9.28 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 annualized dividend and a dividend yield of 1.53%. Avery Dennison’s payout ratio is 52.17%.

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.