Raymond James Financial Services Advisors Inc. Cuts Stock Position in Avery Dennison Co. (NYSE:AVY)

Raymond James Financial Services Advisors Inc. lowered its stake in Avery Dennison Co. (NYSE:AVYGet Rating) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,051 shares of the industrial products company’s stock after selling 1,895 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Avery Dennison were worth $5,215,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Avery Dennison by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,078 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 686 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in Avery Dennison by 28.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,710 shares of the industrial products company’s stock valued at $8,530,000 after purchasing an additional 10,370 shares during the last quarter. Yousif Capital Management LLC boosted its stake in Avery Dennison by 0.5% during the 1st quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock valued at $2,215,000 after purchasing an additional 65 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Avery Dennison by 61.4% during the 1st quarter. Raymond James Trust N.A. now owns 4,968 shares of the industrial products company’s stock valued at $864,000 after purchasing an additional 1,889 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in Avery Dennison by 2.2% during the 1st quarter. Blair William & Co. IL now owns 8,215 shares of the industrial products company’s stock valued at $1,429,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $192.59 on Thursday. Avery Dennison Co. has a one year low of $151.62 and a one year high of $215.96. The stock’s fifty day moving average is $184.11 and its 200 day moving average is $179.79. The stock has a market cap of $15.59 billion, a P/E ratio of 19.47, a P/E/G ratio of 2.68 and a beta of 0.98. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.66 and a current ratio of 1.01.

Avery Dennison (NYSE:AVYGet Rating) last announced its earnings results on Wednesday, October 26th. The industrial products company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.05). Avery Dennison had a return on equity of 40.82% and a net margin of 8.88%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the business posted $2.14 earnings per share. Avery Dennison’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts anticipate that Avery Dennison Co. will post 9.64 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 21st. Stockholders of record on Wednesday, December 7th were given a $0.75 dividend. The ex-dividend date was Tuesday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.56%. Avery Dennison’s payout ratio is 30.33%.

Analyst Upgrades and Downgrades

Several analysts have commented on AVY shares. Raymond James cut their target price on Avery Dennison from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, October 27th. Citigroup raised their price target on Avery Dennison from $204.00 to $216.00 in a research note on Wednesday, January 4th. Bank of America upgraded Avery Dennison from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $205.00 in a research note on Thursday, December 15th. Robert W. Baird dropped their price target on Avery Dennison from $250.00 to $210.00 in a research note on Thursday, October 27th. Finally, StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, December 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.00.

Avery Dennison Company Profile

(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.

See Also

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

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