Pacer Advisors Inc. Boosts Holdings in Avery Dennison Co. (NYSE:AVY)

Pacer Advisors Inc. boosted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 61.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 28,523 shares of the industrial products company’s stock after buying an additional 10,882 shares during the quarter. Pacer Advisors Inc.’s holdings in Avery Dennison were worth $6,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AVY. Innealta Capital LLC bought a new stake in shares of Avery Dennison during the 2nd quarter valued at $28,000. Kennebec Savings Bank purchased a new stake in Avery Dennison in the third quarter worth about $36,000. Peterson Financial Group Inc. bought a new position in shares of Avery Dennison in the third quarter worth about $39,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Avery Dennison during the 2nd quarter valued at about $42,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Avery Dennison during the 2nd quarter valued at approximately $51,000. 94.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on AVY. Citigroup lowered their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Barclays dropped their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. BMO Capital Markets dropped their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $244.96.

Avery Dennison Trading Up 1.5 %

Shares of NYSE AVY opened at $202.59 on Monday. The stock has a market capitalization of $16.28 billion, a P/E ratio of 24.32, a PEG ratio of 1.53 and a beta of 0.89. Avery Dennison Co. has a 1-year low of $187.93 and a 1-year high of $233.48. The business’s 50 day moving average is $210.78 and its two-hundred day moving average is $216.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. Avery Dennison’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 EPS. As a group, research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.74%. Avery Dennison’s payout ratio is 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.