Avery Dennison Co. (NYSE:AVY) Stock Holdings Lifted by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in Avery Dennison Co. (NYSE:AVYGet Rating) by 6.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,291 shares of the industrial products company’s stock after buying an additional 539 shares during the quarter. Van ECK Associates Corp’s holdings in Avery Dennison were worth $1,512,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Avery Dennison by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 9,674,317 shares of the industrial products company’s stock worth $1,683,041,000 after buying an additional 24,670 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Avery Dennison by 7.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,398,230 shares of the industrial products company’s stock valued at $1,035,681,000 after purchasing an additional 437,559 shares during the last quarter. Victory Capital Management Inc. lifted its position in Avery Dennison by 3.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,242,414 shares of the industrial products company’s stock valued at $362,980,000 after purchasing an additional 75,826 shares during the last quarter. Lazard Asset Management LLC lifted its position in Avery Dennison by 9.8% in the 2nd quarter. Lazard Asset Management LLC now owns 1,918,645 shares of the industrial products company’s stock valued at $310,570,000 after purchasing an additional 170,639 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Avery Dennison by 15.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,217,658 shares of the industrial products company’s stock valued at $197,103,000 after purchasing an additional 158,931 shares during the last quarter. 89.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Avery Dennison from $183.00 to $194.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, December 15th. Citigroup lifted their price objective on shares of Avery Dennison from $204.00 to $216.00 in a research report on Wednesday, January 4th. Robert W. Baird lowered their target price on shares of Avery Dennison from $250.00 to $210.00 in a research note on Thursday, October 27th. Finally, Raymond James lowered their target price on shares of Avery Dennison from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, October 27th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $203.00.

Avery Dennison Stock Performance

Shares of AVY opened at $195.34 on Friday. The firm’s 50 day moving average is $185.03 and its 200-day moving average is $180.19. The stock has a market capitalization of $15.82 billion, a P/E ratio of 19.75, a P/E/G ratio of 2.75 and a beta of 0.98. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.01 and a quick ratio of 0.66. Avery Dennison Co. has a 12-month low of $151.62 and a 12-month high of $211.35.

Avery Dennison (NYSE:AVYGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.05). The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.30 billion. Avery Dennison had a return on equity of 40.82% and a net margin of 8.88%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.14 EPS. Equities research analysts anticipate that Avery Dennison Co. will post 9.64 EPS for the current fiscal 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 paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 1.54%. Avery Dennison’s dividend payout ratio is currently 30.33%.

Avery Dennison Company Profile

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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.

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

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