Claraphi Advisory Network LLC reduced its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 20.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,513 shares of the industrial products company’s stock after selling 639 shares during the quarter. Claraphi Advisory Network LLC’s holdings in Avery Dennison were worth $273,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Zions Bancorporation acquired a new position in shares of Avery Dennison during the 3rd quarter worth about $108,000. Squar Milner Financial Services LLC acquired a new position in shares of Avery Dennison during the 2nd quarter worth about $112,000. Steward Partners Investment Advisory LLC boosted its position in shares of Avery Dennison by 270.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,152 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 841 shares in the last quarter. Fort L.P. acquired a new position in shares of Avery Dennison during the 2nd quarter worth about $120,000. Finally, Nichols & Pratt Advisers LLP MA acquired a new position in shares of Avery Dennison during the 2nd quarter worth about $204,000. 83.85% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE AVY opened at $92.44 on Tuesday. The stock has a market capitalization of $8.14 billion, a P/E ratio of 18.49, a PEG ratio of 2.22 and a beta of 1.37. The company has a quick ratio of 0.71, a current ratio of 1.00 and a debt-to-equity ratio of 1.24. Avery Dennison Corp has a 52-week low of $86.06 and a 52-week high of $123.67.
Avery Dennison (NYSE:AVY) last announced its 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). The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. As a group, research analysts forecast that Avery Dennison Corp will post 6.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Wednesday, December 5th will be given a $0.52 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.25%. Avery Dennison’s dividend payout ratio (DPR) is presently 41.60%.
A number of analysts recently issued reports on AVY shares. Loop Capital upped their target price on Avery Dennison to $115.00 and gave the company a “hold” rating in a research report on Wednesday, July 25th. Citigroup upped their target price on Avery Dennison from $126.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Bank of America upped their target price on Avery Dennison from $114.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Barclays upped their target price on Avery Dennison from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, July 30th. Finally, Zacks Investment Research cut Avery Dennison from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $120.25.
In other Avery Dennison news, Director Anthony Anderson sold 1,275 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $104.75, for a total transaction of $133,556.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate 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.
See Also: Intrinsic Value
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