Proficio Capital Partners LLC Makes New Investment in Avery Dennison Co. (NYSE:AVY)

Proficio Capital Partners LLC acquired a new position in shares of Avery Dennison Co. (NYSE:AVY – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 71,673 shares of the industrial products company’s stock, valued at approximately $72,000. Proficio Capital Partners LLC owned 0.09% of Avery Dennison as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. MGO One Seven LLC acquired a new position in Avery Dennison during the fourth quarter worth $641,000. Vaughan Nelson Investment Management L.P. raised its position in Avery Dennison by 17.9% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 55,682 shares of the industrial products company’s stock worth $10,078,000 after acquiring an additional 8,445 shares during the period. Barclays PLC raised its position in Avery Dennison by 23.3% during the fourth quarter. Barclays PLC now owns 136,799 shares of the industrial products company’s stock worth $24,761,000 after acquiring an additional 25,856 shares during the period. Baker Tilly Wealth Management LLC acquired a new position in Avery Dennison during the fourth quarter worth $511,000. Finally, FDx Advisors Inc. raised its position in Avery Dennison by 25.2% during the fourth quarter. FDx Advisors Inc. now owns 5,906 shares of the industrial products company’s stock worth $1,069,000 after acquiring an additional 1,187 shares during the period. 90.27% of the stock is currently owned by institutional investors and hedge funds.

Get Avery Dennison alerts:

Avery Dennison Trading Up 1.0 %

Shares of AVY opened at $173.48 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 1.42. Avery Dennison Co. has a 12-month low of $157.28 and a 12-month high of $204.37. The firm has a 50-day moving average price of $168.73 and a 200 day moving average price of $176.66. The firm has a market capitalization of $14.01 billion, a P/E ratio of 20.88, a P/E/G ratio of 2.73 and a beta of 0.96.

Avery Dennison (NYSE:AVY – Free Report) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.04. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a net margin of 7.77% and a return on equity of 34.49%. Avery Dennison’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.40 earnings per share. Sell-side analysts forecast that Avery Dennison Co. will post 9 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Tuesday, June 6th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.75. Avery Dennison’s dividend payout ratio (DPR) is 38.99%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Director Julia A. Stewart sold 930 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $172.99, for a total transaction of $160,880.70. Following the transaction, the director now directly owns 15,962 shares in the company, valued at $2,761,266.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Avery Dennison in a report on Thursday, May 18th. They set a “hold” rating for the company. Loop Capital dropped their target price on shares of Avery Dennison from $208.00 to $201.00 in a report on Thursday, June 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $210.88.

About Avery Dennison

(Free Report)

Avery Dennison Corporation operates as materials science and digital identification solutions company. It provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and various converted products and solutions. The company designs and manufactures a range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance.

Featured Stories

• Five stocks we like better than Avery Dennison
• Tesla Production Cranks Into High Gear, Shares Follow 
• Ford Soars 30% YTD After Breaking Out: What’s Next?
• Acuity Brands Lights Up Opportunity In The Industrial Sector 
• Overstock Looks Beyond Overbought After Bed Bath Re-Brand
• Tecnoglass Shines Bright As Analysts Bullish On Growth Potential

Want to see what other hedge funds are holding AVY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avery Dennison Co. (NYSE:AVY – Free Report).

Receive News & Ratings for Avery Dennison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison and related companies with MarketBeat.com's FREE daily email newsletter.