Commonwealth Equity Services LLC lifted its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,646 shares of the industrial products company’s stock after purchasing an additional 938 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Avery Dennison were worth $2,887,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in AVY. Zions Bancorporation bought a new stake in Avery Dennison in the third quarter valued at $108,000. Squar Milner Financial Services LLC purchased a new stake in shares of Avery Dennison in the 2nd quarter worth about $112,000. Steward Partners Investment Advisory LLC lifted its position in shares of Avery Dennison by 270.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,152 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 841 shares during the period. Fort L.P. purchased a new stake in shares of Avery Dennison in the 2nd quarter worth about $120,000. Finally, Nichols & Pratt Advisers LLP MA purchased a new stake in shares of Avery Dennison in the 2nd quarter worth about $204,000. 83.85% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on the stock. Barclays raised their target price on shares of Avery Dennison from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, July 30th. Zacks Investment Research cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Loop Capital raised shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a research report on Thursday, September 13th. Citigroup lowered their price target on shares of Avery Dennison from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, October 11th. Finally, UBS Group set a $135.00 price target on shares of Avery Dennison and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $120.25.
Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.02). Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period last year, the business earned $1.26 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. As a group, research analysts forecast that Avery Dennison Corp will post 6.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Wednesday, December 5th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, December 4th. This represents a $2.08 dividend on an annualized basis and a yield of 2.25%. Avery Dennison’s dividend payout ratio (DPR) is currently 41.60%.
In other Avery Dennison news, Director Anthony Anderson sold 1,275 shares of the firm’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $104.75, for a total transaction of $133,556.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.
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Avery Dennison Profile
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.
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