McElhenny Sheffield Capital Management LLC Sells 216 Shares of Avery Dennison Co. (NYSE:AVY)

McElhenny Sheffield Capital Management LLC decreased its position in Avery Dennison Co. (NYSE:AVY) by 9.3% during the fourth quarter, HoldingsChannel.com reports. 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 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its holdings in shares of Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison in the 3rd quarter worth about $36,000. Peterson Financial Group Inc. purchased a new position in Avery Dennison in the 3rd quarter worth about $39,000. Raleigh Capital Management Inc. lifted its stake in Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Avery Dennison during the 3rd quarter valued at about $66,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $191.07 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The firm has a market cap of $15.35 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 1.29 and a beta of 0.89. The firm has a fifty day moving average price of $195.08 and a 200 day moving average price of $207.86. Avery Dennison Co. has a fifty-two week low of $181.99 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last posted its 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. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the company earned $2.10 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AVY shares. Barclays reduced their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Bank of America reduced their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, UBS Group dropped their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.05.

Insiders Place Their Bets

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

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.