Prospera Financial Services Inc trimmed its stake in Avery Dennison Co. (NYSE:AVY – Free Report) by 4.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,209 shares of the industrial products company’s stock after selling 150 shares during the quarter. Prospera Financial Services Inc’s holdings in Avery Dennison were worth $709,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AVY. Cetera Investment Advisers increased its position in Avery Dennison by 195.2% in the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after buying an additional 11,811 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Avery Dennison by 86.5% during the second quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock valued at $7,114,000 after acquiring an additional 15,092 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Avery Dennison during the second quarter worth approximately $543,000. Swedbank AB lifted its holdings in shares of Avery Dennison by 1.0% in the 2nd quarter. Swedbank AB now owns 462,083 shares of the industrial products company’s stock worth $101,034,000 after purchasing an additional 4,673 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Avery Dennison by 11.0% in the 1st quarter. Jane Street Group LLC now owns 47,420 shares of the industrial products company’s stock valued at $10,587,000 after purchasing an additional 4,697 shares during the period. 94.17% of the stock is owned by institutional investors.
Avery Dennison Trading Up 1.5 %
Shares of AVY stock opened at $202.59 on Friday. The company has a 50 day moving average of $210.78 and a 200-day moving average of $216.80. Avery Dennison Co. has a 12-month low of $187.93 and a 12-month high of $233.48. The firm has a market cap of $16.28 billion, a P/E ratio of 24.32, a PEG ratio of 1.53 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.
Avery Dennison (NYSE:AVY – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts anticipate that Avery Dennison Co. will post 9.42 earnings per share for the current year.
Avery Dennison Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.74%. Avery Dennison’s dividend payout ratio (DPR) is 42.26%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on AVY. BMO Capital Markets reduced their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Barclays lowered their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Citigroup decreased their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Finally, Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and raised their price target for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $244.96.
View Our Latest Analysis on AVY
Avery Dennison Company Profile
(Free Report)
Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.
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