Private Advisor Group LLC purchased a new stake in Avery Dennison Co. (NYSE:AVY – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,978 shares of the industrial products company’s stock, valued at approximately $1,607,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Avery Dennison by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,078 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 686 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Avery Dennison by 28.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 46,710 shares of the industrial products company’s stock valued at $8,530,000 after purchasing an additional 10,370 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Avery Dennison by 0.5% in the 1st quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock valued at $2,215,000 after purchasing an additional 65 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Avery Dennison by 61.4% in the 1st quarter. Raymond James Trust N.A. now owns 4,968 shares of the industrial products company’s stock valued at $864,000 after purchasing an additional 1,889 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of Avery Dennison by 2.2% in the 1st quarter. Blair William & Co. IL now owns 8,215 shares of the industrial products company’s stock valued at $1,429,000 after purchasing an additional 173 shares during the last quarter. 90.27% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently commented on AVY. BMO Capital Markets reduced their price objective on shares of Avery Dennison from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 26th. UBS Group raised shares of Avery Dennison from a “neutral” rating to a “buy” rating and upped their price objective for the company from $184.00 to $220.00 in a research note on Wednesday. Argus cut their target price on shares of Avery Dennison from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, July 26th. StockNews.com initiated coverage on shares of Avery Dennison in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Loop Capital cut their target price on shares of Avery Dennison from $208.00 to $201.00 in a research note on Thursday, June 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.
Avery Dennison Stock Performance
AVY opened at $184.36 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.44. The company’s fifty day moving average price is $177.39 and its two-hundred day moving average price is $175.06. Avery Dennison Co. has a 1-year low of $157.28 and a 1-year high of $196.04. The company has a market cap of $14.86 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 3.22 and a beta of 0.95.
Avery Dennison (NYSE:AVY – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.13). Avery Dennison had a return on equity of 31.13% and a net margin of 6.66%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the company posted $2.64 EPS. The business’s quarterly revenue was down 10.9% on a year-over-year basis. On average, analysts expect that Avery Dennison Co. will post 8.04 EPS for the current fiscal year.
Avery Dennison Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a $0.81 dividend. The ex-dividend date is Tuesday, September 5th. This represents a $3.24 annualized dividend and a dividend yield of 1.76%. Avery Dennison’s dividend payout ratio is currently 46.69%.
Insider Activity
In other news, insider Francisco Melo sold 4,800 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $186.00, for a total value of $892,800.00. Following the completion of the sale, the insider now owns 16,905 shares in the company, valued at $3,144,330. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
Avery Dennison Profile
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
- Upcoming IPO Stock Lockup Period, Explained
- 2 Stocks to Get You Ready for the Holiday Season
- The How And Why of Investing in Oil Stocks
- Profit Potential: 5 Undervalued Stocks With High Dividend Yields
- Breakout Stocks: What They Are and How to Identify Them
- MarketBeat Week in Review – 8/21 – 8/25
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.
