Commonwealth Equity Services LLC Sells 784 Shares of Avery Dennison Corp (NYSE:AVY)

Commonwealth Equity Services LLC trimmed its stake in shares of Avery Dennison Corp (NYSE:AVY) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,272 shares of the industrial products company’s stock after selling 784 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Avery Dennison were worth $3,210,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AVY. Victory Capital Management Inc. increased its stake in Avery Dennison by 77.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,857,542 shares of the industrial products company’s stock worth $214,881,000 after acquiring an additional 808,710 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Avery Dennison by 12.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,555,193 shares of the industrial products company’s stock worth $642,625,000 after acquiring an additional 626,277 shares during the last quarter. Marshall Wace North America L.P. increased its stake in Avery Dennison by 106.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 1,031,090 shares of the industrial products company’s stock worth $119,277,000 after acquiring an additional 531,517 shares during the last quarter. Boston Partners increased its stake in Avery Dennison by 26.2% in the 2nd quarter. Boston Partners now owns 2,064,187 shares of the industrial products company’s stock worth $238,767,000 after acquiring an additional 428,743 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Avery Dennison by 1,819.4% in the 2nd quarter. First Trust Advisors LP now owns 359,817 shares of the industrial products company’s stock worth $41,624,000 after acquiring an additional 341,071 shares during the last quarter. Institutional investors own 88.37% of the company’s stock.

A number of equities analysts have weighed in on AVY shares. KeyCorp restated a “hold” rating on shares of Avery Dennison in a research note on Friday, September 13th. Citigroup lowered Avery Dennison from a “buy” rating to a “neutral” rating and upped their target price for the stock from $132.00 to $136.00 in a research note on Thursday, October 24th. Bank of America upgraded Avery Dennison from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Friday, September 13th. Berenberg Bank started coverage on Avery Dennison in a report on Thursday, August 15th. They issued a “buy” rating and a $130.00 price objective for the company. Finally, Zacks Investment Research upgraded Avery Dennison from a “sell” rating to a “hold” rating and set a $134.00 price objective for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Avery Dennison has an average rating of “Hold” and an average target price of $126.00.

In related news, VP Lori J. Bondar sold 2,600 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $115.90, for a total transaction of $301,340.00. Following the completion of the sale, the vice president now directly owns 20,028 shares in the company, valued at approximately $2,321,245.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lori J. Bondar sold 4,213 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $114.63, for a total value of $482,936.19. Following the sale, the chief accounting officer now owns 21,641 shares of the company’s stock, valued at $2,480,707.83. The disclosure for this sale can be found here. Insiders have sold a total of 19,781 shares of company stock valued at $2,418,877 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

AVY opened at $133.83 on Friday. The stock has a 50-day moving average price of $118.55 and a 200-day moving average price of $113.24. Avery Dennison Corp has a 12-month low of $82.89 and a 12-month high of $133.88. The company has a current ratio of 1.03, a quick ratio of 0.74 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $11.13 billion, a P/E ratio of 22.08, a PEG ratio of 2.47 and a beta of 1.32.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.05. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Avery Dennison had a return on equity of 53.79% and a net margin of 3.37%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 EPS. On average, equities research analysts predict that Avery Dennison Corp will post 6.55 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.73%. The ex-dividend date is Tuesday, December 3rd. Avery Dennison’s dividend payout ratio is presently 38.28%.

Avery Dennison Company 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, as well as durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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