Avery Dennison Co. (NYSE:AVY) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its position in shares of Avery Dennison Co. (NYSE:AVYGet Rating) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 39,611 shares of the industrial products company’s stock after selling 6,681 shares during the quarter. Toronto Dominion Bank’s holdings in Avery Dennison were worth $6,411,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AVY. SG Americas Securities LLC grew its holdings in shares of Avery Dennison by 8.1% in the 1st quarter. SG Americas Securities LLC now owns 7,763 shares of the industrial products company’s stock worth $1,351,000 after acquiring an additional 584 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Avery Dennison by 32.1% in the 1st quarter. Signaturefd LLC now owns 346 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 84 shares during the last quarter. Atria Investments LLC grew its holdings in shares of Avery Dennison by 5.5% in the 1st quarter. Atria Investments LLC now owns 7,221 shares of the industrial products company’s stock worth $1,256,000 after acquiring an additional 374 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Avery Dennison by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 11,049 shares of the industrial products company’s stock worth $1,922,000 after acquiring an additional 117 shares during the last quarter. Finally, DAVENPORT & Co LLC acquired a new position in shares of Avery Dennison in the 1st quarter worth $299,000. 90.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Avery Dennison news, Director Anthony Anderson sold 2,800 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $178.82, for a total value of $500,696.00. Following the completion of the sale, the director now owns 1,374 shares of the company’s stock, valued at $245,698.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVY. Bank of America cut Avery Dennison from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $206.00 to $172.00 in a report on Thursday, October 13th. Robert W. Baird decreased their target price on Avery Dennison from $250.00 to $210.00 in a research report on Thursday, October 27th. Raymond James decreased their target price on Avery Dennison from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Thursday, October 27th. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research report on Wednesday, November 9th. Finally, Citigroup decreased their target price on Avery Dennison from $218.00 to $204.00 and set a “buy” rating for the company in a research report on Tuesday, October 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $196.44.

Avery Dennison Price Performance

AVY opened at $193.01 on Thursday. The stock has a market cap of $15.63 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.77 and a beta of 0.96. Avery Dennison Co. has a 1 year low of $151.62 and a 1 year high of $221.76. The company has a current ratio of 1.01, a quick ratio of 0.66 and a debt-to-equity ratio of 1.23. The stock has a fifty day moving average price of $173.10 and a 200 day moving average price of $175.72.

Avery Dennison (NYSE:AVYGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.06). The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. Avery Dennison had a net margin of 8.88% and a return on equity of 40.82%. Avery Dennison’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.14 EPS. Analysts forecast that Avery Dennison Co. will post 9.77 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Wednesday, December 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. Avery Dennison’s dividend payout ratio is currently 30.33%.

About Avery Dennison

(Get Rating)

Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials under the Fasson, JAC, and Avery Dennison brands; graphics products under the Avery Dennison and Mactac brands; and reflective products under the Avery Dennison brand.

Further Reading

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

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