Fmr LLC Lowers Position in Avery Dennison Co. (NYSE:AVY)

Fmr LLC decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 11.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 921,477 shares of the industrial products company’s stock after selling 120,332 shares during the period. Fmr LLC’s holdings in Avery Dennison were worth $203,425,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its holdings in Avery Dennison by 24.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,420 shares of the industrial products company’s stock worth $317,000 after buying an additional 281 shares during the period. Tidal Investments LLC grew its stake in Avery Dennison by 14.3% in the first quarter. Tidal Investments LLC now owns 2,986 shares of the industrial products company’s stock valued at $667,000 after purchasing an additional 374 shares during the last quarter. Cetera Investment Advisers raised its holdings in Avery Dennison by 195.2% in the first quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock worth $3,988,000 after purchasing an additional 11,811 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of Avery Dennison by 204.2% during the first quarter. Cetera Advisors LLC now owns 4,225 shares of the industrial products company’s stock valued at $943,000 after buying an additional 2,836 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of Avery Dennison by 18.1% in the 2nd quarter. Mather Group LLC. now owns 2,416 shares of the industrial products company’s stock valued at $539,000 after buying an additional 370 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVY. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Barclays reduced their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Citigroup reduced their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus target price of $244.96.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Avery Dennison Trading Up 0.1 %

Avery Dennison stock opened at $206.07 on Tuesday. The stock has a 50-day moving average price of $209.61 and a 200 day moving average price of $215.85. The company has a market capitalization of $16.56 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. Avery Dennison Co. has a 52 week low of $190.04 and a 52 week high of $233.48. 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) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 EPS. Sell-side analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.71%. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Avery Dennison Profile

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.